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Updated about 6 years ago,
Financing BRRRR in HEB: Great credit, some cash. Next Step???
Hello everyone! I bought our first rental property last year out in Crowley and I am looking to acquire up to 5 more properties this year in the HEB area. My goal is to use the BRRRR method and have at least 11 rental units (either SF or small multi-family).
We have great credit and a comfortable sum that we can use for either the down payment or reno on the 1st (and MAYBE 2nd) property. For our first deal I just scoured the internet, found the lowest rate out there, and got a conventional mortgage. (Had to put like 30% down to get the best rate. I would like to NOT do that again.)
Listening to the BP podcasts, they are constantly urging you to create relationships with local banks. Do you have any local banks/portfolio lenders you'd recommend in this area? I bank at Frost and plan on meeting with them next week. But, other than that i've got nothing. I'd love any suggestions and recommendations. Thank you!