Financing a 2nd investment property
Looking for a way to finance my 2nd investment...any ideas?
I applied for a conventional loan at my bank which has never said no in lending me money for anything other than a home. Currently,
I am looking for a mortgage to a home that my family will live in. I applied to the bank and they turned down my application. Here are the stats: I was asking for $120K with $10K down and my family was going to live in the property. I have always wanted to invest in real estate, but now that I am trying to purchase my second home it seems impossible to get funding even with $10K down. The downside to me is what about the 3rd property, if I have a rough time getting the second, how am I going to use OPM in order fund a 3rd property?
Thanks for the help in advance.