How to go about 2nd mortgage

[Hugo Flores]

Greetings all,

I am a new investor. I purchased a duplex back in Nov 2020. I live on one side and rent out the other. It has been great with very good tenants. As I am looking to the future, I want to build a portfolio and need some insight from some of you!

Price: $175k 

Rent: $1000 each side

Costs: $1500 

Profit: $500 

The deal here is that I purchased some new built duplex. This was a great find I will never worry about bad tenants because of the location and for the price the duplex has a lot of good things. 

How can I go about qualifying or what should I do to get a second mortgage? I cannot build equity into it with upgrades as everything is brand new. Should I give extra payments in hopes to reach 20% soon? Is there other ways to get loans without 15-20% equity... please help!!