Own two but how do I get funding for my next property.

[Nicholas Kless]

Hey all,

I'm stuck with two properties.  How do I get financing for my next one.  Do I need to save up 20% for each? 

Thank you.

Nick

[Justin Escajeda]

Nicholas,

I call almost every for sale by owner sign I see, and I ask them if they are interested in engaging in a seller finance deal with me.  I explain the pros and cons of it, and I'd say about 9.9times out of 10 they say no.  However, I 've bought 2 houses that way and I actually just had a promising call yesterday when I called one waiting to pick my daughter up from school. 

You could always dip into the equity of your current house(s) and use that as a down payment, or depending how much you have, pay cash.

Have you used fha currently?? You can use that for up to a four-plex I believe (but not certain!).  You could live one of the units...rent the other(s) out.  Brandon Turner from this podcast is a big advocate for this, as am I - I used fha for a duplex of mine, worked out great.