How can I fund a small multi family deal?

[Nick H.]

Hey all! my name is nick.

Bought my first SFH at 21 back in December of 21, LOL. Now looking to buy a duplex.

Where I am looking to invest theres good fully rented duplexes for 200k and less. Some of them have one vacancy some of them are fully rented. The issue I have is, I have very little money to put as my down payment and would not be able to do the 20/25% needed. 

In addition to this using a FHA /VA as my primary residence is sort of out of the question since i just bought a SFH using VA and am currently living in it, and to be honest I don't really want to move. Will if I have to do make a deal work (would have to wait till ive been living here for a year).

What are my options? 

Can I use a hard money lender?

i have about 30k worth of equity in my SFH can I use that for a down payment?

DSCR Loans?

getting a partner?

Thank You for reading this, any help would be so much appreciated. 

Very respectfully,

Nick Hulsman

[Nathan Gesner]

Welcome to BiggerPockets, Nick!

You need $40,000 or more to buy a $200,000 duplex with 20% down. You don't have enough equity to borrow that much.

You could partner with a family member or friend. I recommend you use an attorney to help you navigate that decision.

There's also the option of exercising patience, a virtue so often forgotten in today's world of investors. Work hard, save up, live on a budget, invest from a strong financial foundation.