Updated about 10 years ago on . Most recent reply
Creative way to finance when we already own a primary residence
I want to try a flip first to see if A) I can handle the time commitment and B) is it a good way to raise funds for future investment properties. My question is what's the best way to get a loan without the 20% down?
- We currently own our house so this would be a second home
- We have credit scores in the 800's
- We make ~$250k/year
We have (or better yet, my wife wont let me) spend that much on a downpayment so I need to get creative.
Do I have any options or should I save/convince her to risk some money on this?