Updated about 5 years ago on . Most recent reply
Borrowing a Lump Sum to Buy 2 Properties with 2 Owners
Hi! I am thinking of buying 2 properties, one for $29k and another for $67k and was hoping to put $20k down for both properties and borrow the rest. I was talking to a lender and they told me they cannot lend to me for the $29k property because the closing costs is too big a percentage of the property price and so I would have to pay cash. They can lend for the 2nd property but then I have to put down $20k for it including closing costs and so for both I would have to put down $50k at least.
How can I borrow a lump sum of $80k to buy both properties with different owners?