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Updated almost 6 years ago,
How did you finance your second deal?
Hello all - I'm in a spot where I'm getting ready to pull the trigger on my first deal within the next 60-90 days if all goes to plan. I've been saving up for a long time and I'll be spending a good chunk of my savings on this first investment. I'm already thinking about my second deal though, and my long-term plan.
My question to everyone here: do you have any suggestions on how I would finance my second deal? I expect my first deal to cashflow, obviously. But I do not think it will return enough to give me an incredibly substantial income boost. My main source of income currently is my salaried job, and I have a few side hustles in the works that I expect will generate some additional income. It will take me some time to save back up to where I can throw down 20-25% on a downpayment for a second property (especially in Southern California), so I was wondering how most folks finance their second, third, fourth, etc. deals.