Help with plan of attack for next property purchase

[Account Closed]

Hello all, I have one rental property already that brings in $1300/month. I am in the process of finishing the third floor, so once that is done, I will be renting that out as well. I am trying to get my second rental property, but I have a hurdle. That hurdle is, I am currently unemployed. Have only been unemployed for about a month/month and a half, however I DO have income. Like I said, I have my rental property bringing in income, I have an ecommerce business that I started a few months back which makes about $2k in sales per month, and I also get a disability check for $880 each month from the VA.

I am only looking for a small amount to borrow for my next property; only about $25k tops for the purchase and I have credit cards for rehab supplies and such. Most banks probably wont work with me due to lack of a current job and also the amount I'm looking to borrow; it seems like most banks have a minimum amount borrowed, which is usually higher than 25k. What are my options here? I was thinking about maybe finding a hard money lender then refinancing through a bank to get longer terms, since HML's are typically short term solutions for flips and such. Would it be difficult to refinance as well due to the same reasons above (lack of current job)? Any advice or strategies would be greatly appreciated.

[Garry C.]

How's your credit? If it's in good shape, you might find good rates with crowdfunding sites like Prosper. There are a few dedicated to REI investing as well, they often sponsor the podcasts, if you poke around the site enough you should be able to find links to them here on BP.