20% down AND reserves, where to get it when starting out?

[Carrie Westover]

Hello!

the old adage, "you need money to make money" is coming true as I am gearing up to look at properties and begin my investment journey. My strategy is buy and hold for longterm SFR rentals. I currently have one that was owner occupied turned rental. So now I want to get another but I am faced with this WALL of cash reserves that I just don't have.

20% down for a conventional mortgage plus I need 6 months reserve for my existing rental and the one I want to buy. Is this really a case of wait and save? or are there ways to go around these requirements or meet them in some other fashion? My current rental has AT LEAST 30% equity in it but I've got it on a 12 year loan so they payment isn't too much lower than the rent I am getting.

any advice, ideas, are appreciated!

Thanks

_Carrie Westover