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Updated about 5 years ago on . Most recent reply

Brendan Shane's profile image
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Brendan Shane
  • from Atlanta, GA
  • Member since Jun 17, 2018
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Brendan Shane
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Starting Out

Financing a Down Payment

Brendan Shane
  • Atlanta, GA
Posted

Hi everyone, I hope this finds you well and safe.

I am looking for guidance on ways to finance a down payment. I have a deal (6 units) but don't have the financing for the down payment. What are my options?

Can I take out a loan for a down payment? What type of loan would this be?

Thank you for any insight!

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JD Martin
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JD Martin
  • Rock Star Extraordinaire
  • Northeast, TN
ModeratorReplied

If you have to finance a down payment, you probably are not in a good position to be an investor. Even if you can do it and get the loan, what are your plans for reserves? No bank is going to let you be a 6-unit landlord without some capital behind you to fix AC units and cut the grass and absorb a vacancy. 

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