In need of financing

[Jordan Sutherland]

Hi, 

I recently purchased my first rental property in my hometown Lubbock, TX. I am very anxious to purchase another in the near future. I am 23 years old, married with two children, and my goal is to aquire enough buy and hold rental properties to provide my family financial independence.  The only thing holding me back right now is a lack of capital. I have a large emergency fund that I am not willing to use for real estate investing, so I can be prepared for anything unfortunate that may come up. I  have set aside about $12,000 that I want to use to purchase my next property. My credit is around 800 so I could get a loan through a bank easily, but I would need 20% down. I'm interested in good B class, 3 bedroom SFRs that are priced around $90,000- $125,000. This leaves me a little shy of having money for 20% down. Does anybody have any ideas how I can obtain a property like this with only $12,000 to work with? Like maybe any decent private lenders in the area, or tips on finding someone willing to owner finance. Or should I just wait 6-10 months until I have enough money to do 20% down with a bank? (Also my wife said house hacking is definately not an option, as we are comfortable in our current home.) Thanks!

- Jordan