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Updated almost 8 years ago on . Most recent reply

User Stats

9
Posts
1
Votes
Joshua Koo
  • Medical Assistant and Investor
  • Hacienda Heights, CA
1
Votes |
9
Posts

help with first real estate purchase

Joshua Koo
  • Medical Assistant and Investor
  • Hacienda Heights, CA
Posted

Hey guys Im sure this topic has been covered over and over again but I am having trouble finding a clear answer since I am very new to REI and have never purchased a home but would like to make my first purchase for a duplex using the BRRRR strategy.the particular unit im looking at is 570K and I do not have a sufficient down payment (I have about 10k to put down) I do not know for sure yet but based on my conversations I am sure I can get the price lower since that is price of initial listing.

so my question is If i get a 20% loan form a hard money lender and use that as a down payment for a mortgage is this possible? or are there hard money lenders who will assist me with 100% of the cost and I can simply refi after the seasoning period?

I appreciate your time and advice in advance thank you! love this community!

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