Flipper/Rehabber · Atlanta, GA · Member since 2015 · 105 posts · 133 votes
Hello All,
I am getting into my first multi family duplex an triplex properties. I have identified properties and ready to buy however I am looking for a 10% down payment option. Talked to big banks they all want 25% down payment.
Any advice how to get funding with 10% down payment on multi family property?
Hey @Alex Babayev. Congrats on getting into your first multi family deal. I'm not aware of many big banks that will fund this at 10% down. I would suggest contacting some local private lenders. Their terms are often flexible depending on the property.
Send me a DM. I may know a few that might consider it.
@Alex Babayev Congrats! look at what @Michaela G. said. thats what I am doing as we speak! I got 0% down though im a little different. but with a FHA loan you can do 5%(dont quote me on that cuz it might be 3.5% or 10%) but i know its lower. Are you able to do that?