Buying a second property without selling first

[Candice Gallego]

Hi there, I’m looking for advice on financing a second property without having to sell my first. I living in a 2 bedroom condo that I purchased 18 months ago on a low 5% down conventional. My lender informed me yesterday that I would have to sell my condo to make another purchase with a preapproval of $265k. Originally, I was planning to make it a rental after a year of living here but with COVID they have made harder restrictions. Any advice?