I've loved seeing so many people offer so many different options on how to achieve things. I would love to get everyone's opinion on something.
My business partner and I are in the process of purchasing our first rental. We are using her retirement money to do it.
My question is, how do we purchase the next one? Where do we come up with the down payment? Neither of us have a long enough business history or w2 jobs so we use asset based lender.
Thanks in advance!
Have you considered partnering with a third person who does have a W2 job and would qualify for a conventional loan? You could give them an equity stake for the down payment.
Other options include:
-Home equity line of credit
-Private Money (just pay cash for the whole thing and BRRRR it!)
Best of luck! Let us know what you decide to do.