Financing Options for newer investors

[Joshua Harter]

Background, I'm 29 and relatively new to investing. I recently did a live in flip on my primary and cash out refinanced to fund my future long term investment properties. I was able to pull approx. 70k cash out to use for future investment properties. The problem that I am running into is the current conventional mortgage options in my area for investment properties are 25% down (even with a 700+ credit score). I went under contract for my first long term investment property last week at a sale price of 76k. The down payment was roughly 20k. I called around to other lenders to source options and while there were other options at 20% the loan wasn't large enough to finance at their institutions. Living very conservatively I am only able to save roughly 2500 per month. At this rate I'm forecasting extreme difficulty in scaling over the next two to three years. I understand that finding BRRRR deals can help with this however I've been unsuccessful to find any despite looking everyday for the greater part of the last 6 months. Can anyone share any insight or strategies that may help with this. Asking friends and family is out of the question lol. Hard money loans may be an option if someone can share what criteria I should be looking for when looking for deals. I am very eager to learn and develop my path to financial freedom!