Financing with no money in reserve

[Anthony Butcher]

Hi,

I am trying to get my first investment property, and a couple of banks I spoke to are asking to see 6-12 months of reserves in my bank account to cover the mortgage.

I am working on saving money towards a deposit, but now it looks like I also need to save more to have in reserve.

How do you secure a loan without having to save 6-12 mths. 

[Matthew Kwan]

You can always pursue or consider "seller financing" where you negotiate a tailored fit deal between you as the buyer and seller. You would have to construct a deal that benefits the seller and the risks that they are taking on you, but also making sure you can make sufficient cashflow from that deal @Albert Bui @Carlos Valencia