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Updated about 5 years ago,

User Stats

42
Posts
1
Votes

No money for down payment

Posted

My brother has a duplex that he's willing to sell, he's moving out of state and willing to hand it over but I already own a SFR ( house hacking with 2 roommates) and in order to get that it has to be in investment property with 25-30% down.

I don’t have that money laying around.

I’m currently a student and a Nurse at the Same time I’m thinking about borrowing student loans as a down payment for the property. It’s in a great place and can at least generate $500/ month after everything is paid off.

Selling for $200k and house is worth $230k

Is there a way around this. Where can I get the money there isn’t enough time and he’s trying to sell ASAP.

Please help with any suggestions.

No Heloc my house was purchased last month.

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