How can I leverage my triplex to buy another?

6 Replies

Greetings. I just closed on my first triplex last week and i would like to purchase another home ASAP! How can I leverage my triplex so that I don’t have to come out my pocket 20% for a down payment?

First of all Congrats on your first triplex! A few ways you can purchase your next home...

House Hack

Cashout Refi (did you buy your first with cash?) 

Owner Financing

Partnering with equity partner with capital

Hard Money Lenders

Hope that helps!  Good luck!

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Originally posted by @Simon Obas :

Greetings. I just closed on my first triplex last week and i would like to purchase another home ASAP! How can I leverage my triplex so that I don’t have to come out my pocket 20% for a down payment?

You need to increase the value of your triplex then you can get that money through selling, refinancing, getting a home equity loan, or obtaining a line of credit. 

If there is no way to add value immediately then you have to wait for debt pay down and appreciation. While you are waiting you can save money too.

@Simon Obas i recommend you go listen to podcasts on here! owner finance in short is instead of getting a loan from a bank you get a loan from the seller.  there are many people who've purchased a property via owner finance with 0% down!