Creative Financing Options

[Brooke Sprowl]

Hi Guys!

I bought my first condo 2 years ago and it has appreciated quite a lot since. I am just getting my feet wet in terms of understanding investment property and I'm here to learn more but am rapidly beginning to believe it's a much better investment than the stock market. I'd like to learn about investing locally and nationally as well as learning more about property management.

I have about 100K cash for a down payment and I'm saving cash quickly (about 10K per month) but as a business owner I can write off so many expenses that my income doesn't qualify me for another loan because in addition to my current property (I still owe 600K, put 300K down and it appreciated 200K). In 2017 I should qualify for a higher loan because I have higher income, but right now they base loans on the past 2 years of tax returns and are using my 2014 income which was significantly lower than 2015 and 2016. I'd love some tips if anyone has any creative ways to finance when my debt to income ratio is already at 49%... Currently refinancing my home but that will only save about $200 per month. 

Thanks in advance for your time!