Creative ways to come up with a large down payment
Just came across a great 8 unit multifamily property pretty close to a smaller college. Id love to move forward on the property. It would be a great way for me to be a "Live-in" landlord and for college kids, I could charge per bedroom. The one huge problem is the down payment... So im turning to the BiggerPockets community for some creative ways to come up with $50,000! Its seemingly impossible for me right now but im sure you guys have some great ideas. Lets get this property financed!
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@Brandon Hix congrats on the find! There are 3 ways:
- find a partner to Joint Venture with you on the deal
- get a loan from family and friends
- see if you can get a line of credit at a credit union (when I was getting started I got a 40k line of credit from American Airlines Credit Union and used that to buy my 4th house)