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Updated about 7 years ago on . Most recent reply

Using a pesonal loan for down payment
I'm short on cash but have good credit and income. I am considering getting a personal loan to help fund my first deal. Has anyone had any experience with using a personal loan to fund their first real estate property (rental or flip)? What are the pros and cons? What things should I consider?
Most Popular Reply

one lender told me that I needed to "season the funds" first, keep it in my account greater than 2 months, then the underwriter will just look at the money as cash... has anyone heard of this concept, he said this also goes for gifted funds