Starting out, money/mortgage question. How to expand

[Gabe G.]

This is a question for people that have gotten this point.

I am a new landlord, just started in august of last year. I currently have 2 properties that have gross cash flow of around 500 each per month.

I want more. But I am running into issues finding financing.

Most bankers have turned me down. I make 40k per year through a w2 job, and have a primary residence/mortgage as well. One of my properties is on my 2013 tax returns for part of the year, but shows a loss because of depreciation.

How do I expand from here? Do I really have to wait until I have two years tax returns on both properties? If that's the case that means I can really only add one house every 2 years.

Any help or info would be appreciated.

Thank you