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Updated over 4 years ago,

User Stats

41
Posts
56
Votes
Craig Dieterich
56
Votes |
41
Posts

first deal found! but problem with financing. Need advice

Craig Dieterich
Posted

I found a turn key duplex for $50k with renters in place bringing in $900/mo. I pre qualified for a loan up to $300k for an investment property at 4.875% with 25% down. My problem is that $50k minus 25% down is only $37,500 and I can't find a lender who will lend that little. I have enough to pay cash, but that will deplete monies that could go toward more investment properties. What are my options?

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