Question about investing in Chicago

[Levi Jones]

First post on BP, I'm looking for  a push in the right direction in terms of how to get a small mortgage for primary residence(or investment) in Chicago(where property can be really cheap). I currently own a two flat which I have a mortgage for. I've read that I could obtain a second fha loan but I was wondering are there any no money  down or collateral only loans I could get to help with the acquisition of a cheap property? There's a lot of good deals and I'm trying to grab one before it slips out my hands.

[Kerry Boyle]

@Levi Jones Most hard money lenders will want to have a loan above 50k and won't provide loans below that same as banks. Sounds like you need PML's. Use hard money for the project and refinance out though, don't look for a hard money loan that is long term - typically they are higher rates.