Is 100% financing on 4 unit non owner occ a pipe dream??

Question

Does anyone know if this is just wishful thinking? I am looking at several 4 unit apartments that look like good deals that will cash flow. Problem is I would like to get into them with 100% funding. Is it possible and if so does anyone have contacts that I can get in touch with to discuss it? Investments will be in Texas.

Thanks

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You can get 100% financing up to 4 units.. Maybe your market is different, but I have not seen a 4 unit property that would cashflow with 100% financing in years.  For your own sake, make sure it does cashflow, and that you have reserves.  A break even property can be a lot of out of pocket expense when you have a vacancy, much less 4.  I have seen 4plexs go from fully rented to fully vacant in a matter of only a couple months.

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Thanks for the info. I am not afraid of being fully reviewed. I dont have spectacular credit but it isnt bad either. Anyway, if the deal is good it is certainly worth looking at to see if it will fly. My plan is to get the first one off the ground and then use the experience/available equity to begin another. Should work.

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gaterunner,
No, it's not a pipe dream. It's not widely available though.
Check into First Magnus and Domestic Bank. They both have investor programs that go up to 100%. Expect to go under the microscope though, these are higher risk loans and everything will be checked.
Both of these lenders are licensed in Texas.

Good Luck
Mark