Down payment for investment property!
I know most of the lenders charge from 20 %- 25% for investment properties (Multifamily). wondering if anyone knows lender or tip to get anything less than that ... i.e 10% - 15%.
Thanks
I am not aware of a lender for a 10% down payment but this is where creative seller financing might work. Speak to the seller and see. Works best on properties owned 15+ years.
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@Atta Bari you can only receive a downpayment at that level if you are occupying the property. However, the ENTIRE reason for the BRRRR method is so that you have lower "out of pocket" costs on a home. So if your "acquisition" loan will lend you 75% of the ARV...and you can buy and renovate a property at 75%...then, in theory at least, your out of pocket is $0. That's why BRRRR is what most investors target. That's how we get properties with less out of pocket. I hope that makes sense.
