All Forum Posts by: Melchor Domantay

Is 100,000 your minimum for Hard Money?

You're correct @Mark S. but if you have capital you might not consider SDIRA. This will work for people who have not enough capital and it's better than cash advanced from a credit card or some other personal loan.

I totally agree, getting a personal loan from your 401k if you're still employed with your current job should be considered. Even though you're taking out a loan/debt, all this payment would be put back to your 401k account including interest!

@Jeff B. Yes, I totally understand. That's why I'm trying to branch out and see if there is a better option out there.

Thanks,

Do you know any lender that offer that option?

Thanks!

Good Evening BP,

Does anyone know a Lender that will allow less than 20% down for an investment property?

Thank you in advanced!!

Thank you guys!

Good Day BP members,

I'm looking to purchase my second home but don't have a lot of capital. I spoke to a lender and he told me that I can get a property by putting a 5% down for a conventional loan for owner occupant. However, I told him that I'm not looking to move and he said, the lending company won't have to know that. Is this normal? If so, what are the repercussions ?

I am currently living in a two flat building and looking to invest and this is the only lender that gave me a great option but I want to make sure I'm doing this legally.

Thanks,

I am currently living in a two flat building and looking to invest and this is the only lender that gave me a great option but I want to make sure I' doing this legally.

Good Day BP members,

I'm looking to purchase my second home but don't have a lot of capital. I spoke to a lender and he told me that I can get a property by putting a 5% down for a conventional loan for owner occupant. However, I told him that I'm not looking to move and he said, the lending company won't have to know that. Is this normal? If so, what are the repercussions ?

Thanks,