Multifamily Property Downpayment
I have taken the BP advice and reached out to 15 lenders (of all different sizes) in hopes of finding one who required a lower <25% down payment on a 2-4 unit property but have had no luck. This is my first property and I would like it to be a multi instead of a SFH. I am short about $10-15k and although I could wait and save up the difference, I would truly like to meet my goal of purchasing the property by the end of next month.
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@Nicholas Sheridan, Jr. look for properties that need rehab and use the BRRR method. You can get an initial fix n flip loan with 10% down of total costs (purchase + rehab) as long as you buy it right, you can refi into long term loan once rehab is complete to 75-80% of new appraised value. If you are looking to buy rent ready you need minimum 20% down (assuming this is investment property).