First investment property

[Tim Carabine]

So I thought I was ready to start looking for my first income property. I'm looking to get into a multi family, 2 or 3 unit. I currently have a single family as my main residence with a conventional loan, and have about 50k to use to try and get into a multi family. The lender that I use though told me I would have to put a minimum of 30% down. In my area 50k isn't enough to buy something reasonable. My lenders answer was to either save more, or do flips first to get more cash. Is there other lending options than a conventional loan at 30% down to purchase another property or am I stuck just raising more capital?

[Robin Simon]

Quote from @Tim Carabine:

So I thought I was ready to start looking for my first income property. I'm looking to get into a multi family, 2 or 3 unit. I currently have a single family as my main residence with a conventional loan, and have about 50k to use to try and get into a multi family. The lender that I use though told me I would have to put a minimum of 30% down. In my area 50k isn't enough to buy something reasonable. My lenders answer was to either save more, or do flips first to get more cash. Is there other lending options than a conventional loan at 30% down to purchase another property or am I stuck just raising more capital?

Most non-conventional "DSCR" lenders will go to 25% down on a duplex or triplex

@River Sava can likely help!