Financing a duplex that is already Cashflowing
I have found a duplex in my town for $115,000 and is currently bringing in $750 per unit. The property doesn’t need any work. I don’t have enough money for a down payment because I purchased my first investment property In December and most of my money went there. Any ideas on how to finance this property?
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Consider teaming up with an investor who could put up disproportionately more cash in exchange for you managing the property/tenants. You could also see if the seller might be willing to hold the note on the mortgage (ie seller financing).