How to Scale with BRRR and buy more properties

[Joe Pitrolo]

I have been finding SFH at auction in WV for 25 to 50k with approximately 25 to 50k or more equity that also rent for $800 or more. These easily meet and exceed the 1 % rule. I have been able to refinance, rent and start over; however, the process takes time per home, approximately 3 to 5 months. It would be nice to have financing in place to by multiple homes at one time.

   I have been looking at the possibility of using refinance proceeds as down payments and going to PML for new purchases, so I can stretch my refinance Dollars further.  Selling off some of your portfolio is also an option, as is partnering with other investors.

    I have found a company that offers a blanket 1.5 million line of credit for $7,500 fee; however, they only finance for 1 year and want an appraisal and loan similar to a PML, apparently their line of credit does not show up on your credit score and would help to continue to refinance with local banks.

Any thoughts on leveraging the BRRR system?

[Brian Garrett]

BRRRR is essentially using your same initial funds over and over again.

The only way to scale is to have access to more money either private partners, HML's, etc.

Furthermore I'd start looking into multifamily instead of single family to scale faster.