All Forum Posts by: Nicholas Lioi

thanks @Joe Jor and @Kyle Spearin

But Joe, even if I use hard money or private lender doesn't that leave me in same predicament as using trad financing? I still need to pay the inital loan back to pay cash on next one.  I think I'll have to go with trad financing on first one.  rehab / rent it out and then save again for down payment on next property.  will take me longer to build my portfolio but at least it's a start.  or maybe I can pull money out of first property to use as down payment on next one. but then I still can't technically pay all cash for either property unless use hard money / private lender.  

Hello - 

My question is for season investors that do business in Westchester County or upstate NY. How can you use the BRRRR method when don't have 5-600k to buy a single or multi-family all cash in these areas? If go the trad financing route and put 20-25% down on the 1st property, then rehab it to increase the ARV, how will you have enough cash to then buy 2nd property? Even if you do a cash out refi, you still need to pay off the initial loan, and then will not have enough money to pay all cash on the next and so on when prices are at a high premium. What am I missing or not understanding? Thanks!

Best,

Nick