Updated over 10 years ago on . Most recent reply
Down payment for multifamily
Greetings BP Family, I am interested in purchasing multifamily properties but unfortunately I dont have the 20% to use for my down payment so I am trying use creative financing to obtain a property. My scenario is to have 75 to 80% financed by the bank, have the seller take back a 2nd of 10 to 15% and i would put 5-10% . Can anyone offer any suggestions in finding sources for down payment?
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we just bought 32 units. 70% bank, 20% seller, 10% me. Total price $960,000.