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?