Buying a second property

[Nathan Doherty]

Hi everyone, I just closed on my first property and I’m already looking for ways to get my next one. I bought my property with a 203k loan and will have about 20k in equity once the work is complete. I’ve considered many strategies for obtaInIng my next property which I’d like to be a 2-4 unit multi family. I was thinking about using a heloc or equity loan as funds for the down payment on the next one but I am worried that I’ll have a hard time getting a mortgage on a second property due to my low military income of about 45k annually. Any advice or insight is appreciated!