Being Patient in Acquiring Properties

[Zachary Riola]

I am a recent new homeowner in Austin, TX. Essentially I closed on an off market property and walked into greater than $50k of upfront equity (probably closer to $75-100k; Austin market is wild).

About 6 months after closing I discovered BiggerPockets and have since become real estate obsessed. I analyze properties every day and am itching to invest in my first rental property but I believe I will be held back by my D to I ratio. Additionally, I feel like I am "cash poor" from buying my first house still. 

I think I am just lacking patience but I am eager to start buying rental properties; I feel like I am sitting on the sideline due to my cash savings being low from my first home purchase. I know there's other ways to "make things happen" in terms of financing via partnerships, OPM, etc. Just looking for some general guidance on what my next steps should be from those that have been there before. 

I have considered refinancing in a year or maybe less to pull some equity out of my house but that kind of scares me since interest rates will be rising and I locked in a very low 2.75% rate on my home loan. 

Any thoughts are welcome. 

[Rick Reeder]

I agree with @Chris Webb, and I would add that you should find yourself a great lender to work with. They can tell you exactly how much you could borrow right now and what down payment you'd need to have available to move on the next property.  Don't guess or assume - find out!