Very excited, yet don't know where or what to do next....

[Courtney W.]

Hi BP!

Hi BP!

My name is Courtney, 25, and I have been lurking this site for the last 18 months. I have finally decided to posts my situation on this forum, after having feelings of hopelessness, and a lack of available mentorship. I am very eager to learn more about the real invest

In September of 2012, I saved up enough money to move out of my parents and to purchase a condo within a decent part of Los Angeles. I believe I got a good deal on the property 2bd/2.5 bath with a 850 mortgage and 150 HOA dues. After buying this property I've taken the steps to rent the extra room for $600/monthly. All the while collecting rent, I have steadily been saving up for my next property.

Fast Forward to June 2013, I have been really feeling the urge to purchase a duplex/ or multi unit within South Los Angeles. I am very much aware of the 1 year owner occupant rule, and I do not plan on actually moving out of my condo until that term is up. However, I recently tried to get financed for another property, and I was told my DTI was too high, and all I would afford was 100k. There are no 100k multi unit properties in all of L.A, and property values are steadily rising along with interest rates.

I'm am posting to see what advice I can gain from you all, in regard to what other options do I have as far as financing goes. I have pondered different alternatives, but would like to hear from experienced investors, before acting to hastily. All criticisms are welcome.

Thanks folks