Updated over 15 years ago on . Most recent reply
how to get a small loan
I know that banks usually don't like to do small loans since they earn a percentage and mortgages are the same amount of work no matter the size. So how do you guys go about getting a small loan? Say I want to buy some property for 25000-30000 to make it cash flow, and I have a $5-10K down payment. how would I find a lender who would give me a $20000 mortgage?
Thanks,
Reid
Most Popular Reply
Rich Weese
#2 Off Topic Contributor
#2 Off Topic Contributor
- Real Estate Investor
- the villages, FL
IF you have other security, you may be able to package multiple properties and get a loan from a local commercial bank. Rich