How do I buy my next rental?
Hello BP community!
I purchased my first investment property last year, a SFH with a FHA loan. Now I am trying to get the creative juices flowing to purchase my next investment property.
After purchasing my first, I came to the realization that it was quite simple and I could have gotten a 2-4 door property instead, but I was discouraged since it was my first property and I preferred to play it safe.
So now what I am seeking advise in is, how can I purchase my next investment? My goal is to have $2,000 of cash flow Income therefore my goal for my next investment would be to purchase for cash flow. I did purchase my first investment with a FHA Loan and from my understanding I would have to refinance into a conventional loan before purchasing another home.
What would you do? And is there another creative way to purchase another investment besides partnering up?