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Updated about 7 years ago,
How to finance multiple properties
I am an aspiring Real Estate Investor in the Cayman Islands, I am currently working towards purchasing my first property before the end of the year. I am currently in talks with a local bank in regards to financing as the offer I presented has been accepted. However the reason for this post is because I also made an offer on another property which I am very interested in and I feel this offer will be accepted as well. I am going to use a conventional mortgage for the first property which is for $110,000 (this is currently in the works with the bank). The other property is for $255,000, however I am not sure how I am going to finance this property. This is where I am hoping the bigger pockets community will help me out, I have been looking at other methods of financing and I just can't seem to figure out how I am going to finance this second property. I know there are a lot creative ways to finance properties but I'm just not sure how to go about any as I am still a newbie.
I have been looking for hard money lenders here in Cayman but I have been unsuccessful thus far, not sure if any are here or maybe I'm just not looking in the right places. Any help would be greatly appreciated.