Creative Finance Question

[Jeremy Pommerening]

Hi,

I'm looking at a property on an Island to use for Airbnb & VRBO.  The home is currently used for this and making great numbers.  Based on the actual numbers given my profit margin should be around 40-45% of gross rental revenue.  My issue - like most people is down payment.  I spent $100k down on my last rental investment two years ago and that left me short on cash.  While the rental is doing great it doesn't afford me a ton of cash.  However the rental property has a good amount of equity.  Should I leverage as much equity as possible to try and purchase the next property?  Would it be better to find a private money lender that will do the deal?  I could also contact the sellers to see if they will finance for 2-3 years before getting a loan when interest rates come down (surely they'll come down).  I just think from what I've seen everyone is going to want 20-25% down and if I had that in my pocket I would have already walked in to a bank to get a loan.  I'm looking for a way in to this deal without a huge down payment.  I've heard some private lenders will buy the property at 100% and sell it to you.  Is that true?  Thanks in advance for reading.  

Thanks,

Jeremy

[Jeremy Pommerening]

Thank you everyone for the quick replies.  Definitely gives me food for thought.  I'll look in to some of the options mentioned but it sounds like leveraging my investment property is something I should highly consider.  Thanks again.  As a real estate investment n00b it is great to hear from you experts.