Rental Property with 10% down!

[Michael Frattallone]

Hello my fellow investors,

I’m trying to purchase a triplex in Tampa, Florida with minimal money down. My broker wants 25% for most lenders and I can only secure about 10%. The property has been completely rehabbed already and is listed for 250k and cashing about $1500 per month. Any suggestions on where I can get financing secured for less out of pocket? Thanks guys! 

[Steven Goldman]

Hi Mike:  Even before the pandemic 20 percent down was the lowest down payment on investor financing. Today the down money has been increased to 25 or even 30 percent down. This greatly reduces the risk for the lender. Your broker is strait shooter. You probably need to look for a money partner. Steve