Question about finance on 3rd investment property

[Stephanie Peterson]

Hello All!

I am looking to buy my 3rd investment property, but I am running into the issue that I have to have 20 percent down because this will be an investment property. Anyone have other advice or options? I'd like to not have to put 20 percent down. :0)

Thank you!!

Stephanie

[Tyler Mutch]

@Stephanie Peterson I think especially now banks are tightening on the down payment amounts, so traditionally you may be stuck.

That being said, it doesn’t have to be your cash, if you can get it from someone else as an “investor” is one route. What about your primary residence? Can you get a heloc or access an equity from that? Also, I just refinances with a smaller local bank and they suggested that I open a business line of credit based on the value of my other properties. I would for sure look into those to help you get that down payment put together.

I don’t know what your market is like, but I just did a seller finance deal earlier this year with only 10% down and just refinanced out of that.

Hope one of these suggestions helps!