Downpayment for second investment property.
Hi - I started RE investing this year and closed on my first investment property (brand new SFR) in Feb. The home purchase price was 235K, with a 20% down my conventional loan is around 185K. The current home value is around 260K, and is currently rented out at 1900/pm. Now we are building our second investment property with the same builder as they are giving us lot of incentives. This second property will run me around 250K and I expect to close in December. I do have some cash saved up for the downpayment, however was wondering if there could be some other way to come up with the downpayment. I dont want to cash refinance the first property just yet, I will do that after I close on the second property to avoid credit issues. I could use some thoughts and advise.