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BRRRR - Buy, Rehab, Rent, Refinance, Repeat

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William Shields
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Downpayment Financing Options Question

William Shields
Pro Member
Posted Jun 13 2022, 15:22

I am interested in a property. The property is going for $950k and 25% of that would be $237k. We do not have $237k laying around. How do people come up with that amount of money to cover the downpayment? For example if we apply for a DSCR loan can we take out a personal loan to cover the deposit? I know when you are getting a loan you can't apply for other loans so I am trying to figure out a way to do this. We don't have friends or personal contacts that can contribute to this. We are new to multifamily investing. Assumptions: The rents collected cover the mortgage, taxes & insurance.

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