Newbie here! I have been living in my home while renovating for the past 2 and half years, and ready to refi, with the intention of putting cash down on second home, and renting the first (BRRRR I guess). But my question is about logistics when I make the transition. When looking for financing for the second home, should I look at traditional banks or elsewhere? And if I do get the second home, I will be paying two mortgages until I can find renters. Do I need a higher income to qualify for double the housing expenses until I can get renters in? I will have a bit of a cushion, but not sure if it will be enough to satisfy lenders. Do I need to look at private lenders, and how do they structure their loans in this case? I know this is a lot. Any help is appreciated!
Thank you!
