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Updated over 1 year ago on . Most recent reply

User Stats

55
Posts
19
Votes
Michael Behr
  • New to Real Estate
  • Huntsville Al
19
Votes |
55
Posts

Where to get the other 5%

Michael Behr
  • New to Real Estate
  • Huntsville Al
Posted

Ok close to a deal but struggling with the money part!! The deal will be 4 units at 230k on one Parcel ( is this an issue with bank?) I have about 20%. I’m being told I’ll need 25% for down payment. I know I need a bridge loan to help cover down payment. How do you pay that off in the time frame allotted. Am I over thinking this? What are the steps in this process? I reached out to several lenders and never got a clear answer

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