There is a property I saw for sale that is a four family fully occupied brining in $2,360/month. My assumption is that no rehab work would need to be done so I would be buying a turnkey property with a conventional loan. What are some suggestions to come up with some financing for the 20% down? Are investors still open to financing down payments with an appropriate ROI or can I do a first mortgage for 80% and a second for the down payment. Any advice is greatly appreciated.
You might be able to do FHA 3% down financing if you are living in the property. Other than that, I am not aware of investors that will do a second mortgage on a 4-unit investment property to cover down payment. How about asking for 5%-10% down seller financing?