Looking for help with financing

[Savanna Collins]

I am new to real estate investing. I started out buying a property in Gulf Breeze turned into a STR. I just recently purchased a duplex in N Pensacola which came with tenants for 10 more months (unfortunately they're paying 1/2 of the rental potential). I paid all cash for both properties. I recently found another deal on a property and I don't want to exhaust my savings. I have never applied for a mortgage or loan for real estate before so everything is very new and confusing. I now have learned I should have started out with loans for my other properties but oh well, gotta learn somehow.
My current financial situation is me and my husband have been self employed now for 3 years now as owner op in the car hauling industry. Just like most we are looking for a more secure retirement and wanted to give real estate a try, we stopped running the ruck for almost 8 months now in order to focus only on real estate which means our tax return for 2021 isn’t going to be anything great but 2020 is much better. We do still have some money saved but it’s time to start going with loans but I don’t know where to even start.

[Nicholas L.]

@Savanna Collins unless I'm missing something, you should be able to get a DSCR loan and cash out on either or both of the properties.

To make it real simple - say one of the properties is worth $100K and you find a lender that will do 75% LTV. They'll do an appraisal, then give you cash out minus closing costs. So $75K minus $5K = $70K. And now you have a mortgage on the property.