What should I know about purchasing a secondary home?

[Huy Le]

I bought a primary residence 5 months ago, and put a lot of money into it. I would like to purchase an investment property, but I would need a 20-25% down payment - which I don't have. 

Can I buy it as a "secondary home" and put down something less than 20% and rent it out right away?

Are there other alternative methods I can utilize to acquire this investment property?

thank you in advance for you guidance!

[Joe Aiola]

@Huy Le Did the money you put into your primary residence add a lot of equity? If so, you might have some options there.

You can buy an investment properties with less than 20% down, it's just a little tougher. Look into seller financing options or doing a BRRRR. Another possible way is to find a partner - have them put the money down but then you manage the rental.

Hope this helps and best of luck!