Updated over 14 years ago on . Most recent reply
question on getting cash
hey i am a new investor currently looking to buy and hold properties to generate long term wealth. I have been to a few CTREIA meetings and have a good idea of how to run the numbers. I am looking at bank REO websites and there seems to be good deals with multi families in the major cities for 40-60k some with 1 unit even rented out at about 800-1000 a month. I see alot of potential here. I have enough money where i can put 20-30% down but how would i go about getting the money for the rest? I have excellent credit but most of these houses want owner occupant, and won't lend to investors. Can i go to my local bank and apply for a loan of 50-75k to purchase maybe 2 of these multi's? thank you