Qualifying for 2nd property - Denver
I'm 25, just purchased a condo in Denver, 2 bd 2 ba. I am currently house hacking it, and renting out the 2nd bedroom.
I was not planning on starting out in real estate, however after renting out the room for quite a bit, i am now intrigued as to how I can invest in another property. My main issue: How did you get the financing for your next property? Did you just save up another down payment, and get a bigger income until you qualified? I don't see a way I would qualify for another loan at this point, unless I rented out the whole thing, and moved home.
I keep seeing podcasts/videos about scaling quickly, buying 5 units in one year, but don't see what the path to that is, or how they got the loans. Appreciate any advice!
Regards,
KM