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Updated over 5 years ago on . Most recent reply

Brady Moxham's profile image
Brady Moxham's profile image
Brady Moxham
  • Member since Jul 21, 2019
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Brady Moxham's profile image
Brady Moxham's profile image
Brady Moxham
  • Member since Jul 21, 2019
Connect
Brady Moxham
2
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6
Posts
Starting Out

Private Money Mortgage

Brady Moxham
Posted

First time investor. I have found a nice 100K house (3 bed 1 bath) in good shape that would rent for 1200 plus utilities, in my area. Currently, I would not be able to put the 25% down that the bank would require. Would it make sense to carry the loan with a private money lender? Would they typically take a 15% or lower down payment? I also already have a tenant that is looking to rent a house with this exact stats. for 1300 a month plus utilities. Any suggestions would be great. 

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