Updated almost 5 years ago on . Most recent reply
first deal found! but problem with financing. Need advice
I found a turn key duplex for $50k with renters in place bringing in $900/mo. I pre qualified for a loan up to $300k for an investment property at 4.875% with 25% down. My problem is that $50k minus 25% down is only $37,500 and I can't find a lender who will lend that little. I have enough to pay cash, but that will deplete monies that could go toward more investment properties. What are my options?
Most Popular Reply
Just pay cash then get a LOC on the house. Be sure to check with your bank first. No need for a partner !