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Updated almost 7 years ago on . Most recent reply

Dennis J Marsack's profile image
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Dennis J Marsack
  • from Port Huron, Michigan
  • Member since Mar 30, 2018
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Dennis J Marsack
  • from Port Huron, Michigan
  • Member since Mar 30, 2018
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Dennis J Marsack
  • Port Huron, MI
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20% Down minimum in Michigan?

Dennis J Marsack
  • Port Huron, MI
Posted

Hey guys, just a quick question.. is 20% down the minimum when purchasing an investment property in Michigan? Are there any loopholes?

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Thomas S.#2 General Landlording & Rental Properties Contributor
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Thomas S.#2 General Landlording & Rental Properties Contributor
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It will be nearly impossible to get any form of bank financing on a property valued under 50K. You will need to find private financing in that situation. Moving up to 100K properties will expand your financing options.

The under 50K market is best left to cash investors. 

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