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Updated almost 10 years ago on . Most recent reply

Steven Daley's profile image
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Steven Daley
  • Investor
  • from McDonough, GA
  • Member since Dec 7, 2014
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Steven Daley's profile image
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Steven Daley
  • Investor
  • from McDonough, GA
  • Member since Dec 7, 2014
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Steven Daley
  • Investor
  • McDonough, GA
3
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8
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Multi-Family and Apartment Investing

Down payment for multifamily

Steven Daley
  • Investor
  • McDonough, GA
Posted

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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Arlan Potter
  • Investor/Accountant/Builder
  • from Meno, Oklahoma
  • Member since Jun 17, 2014
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Arlan Potter's profile image
Arlan Potter
  • Investor/Accountant/Builder
  • from Meno, Oklahoma
  • Member since Jun 17, 2014
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Arlan Potter
  • Investor/Accountant/Builder
  • Meno, OK
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Arlan Potter
  • Investor/Accountant/Builder
  • Meno, OK
Replied

we just bought 32 units.  70% bank, 20% seller, 10% me. Total price $960,000.

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