This creates a negative initial position.

If you are not starting from a very strong financial position and you do not have the ability to quickly stockpile cash quickly from other means then I definitely agree with that statement from the book.

Yes.I had a rental where the applicant had a 7 figure salary.  

I have funds tied up in other projects at the moment but my inbox is FULL of solid deals.We are familiar with some companies that do this.Som will only do first position loans so in many instances you need to refinance out through them and it can get expensive if you ahve a low interest rate.

It's about finding a situation where you can force enough value to create a 20%+ equity position. 

Consolidating CC typically is a net positive, when we come across that there are a few ways to leverage equity in your home to do that so you can save monthly and get the balance down faster. 

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

For illustration purposes, the investor with engineering and/or construction background may excel building in a market where there is ease in doing business and can build efficiently whereas the doctor may have greater success in the established market where significant barriers already exist but can afford the entry price and can ride the waive of continued appreciation and offset their high salary by depreciating the expensive building they acquired.  

An LLC also makes refinancing in the BRRRR method smoother, as many lenders prefer loans through an entity for multi-property investors.Starting with the right structure positions you for long-term success.

You're in a great position, but using the wrong type of financing in the beginning could impede the growth of your portfolio.All the bestStephanie