Acquiring capital for second property

[Garrett Ott]

Hello BP!

I'll cut right to it. Im trying to walk myself through the BRRRR method while using an FHA (203k most likely) to fund my first property. Once that's done, and I refi, how will I be able to pull out enough $$ for the second property?

Since banks will only give the ~75% LTV and I won't have the full property equity (from the small down payment on FHA). Will I just have to wait until more of the mortgage is paid off before being able to pull out a decent amount of money for the second property?

Thanks!