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Updated over 11 years ago,

User Stats

431
Posts
170
Votes
Kurt Kwart
  • Specialist
  • Atlantic City, NJ
170
Votes |
431
Posts

Peer loan just in case?

Kurt Kwart
  • Specialist
  • Atlantic City, NJ
Posted

Yo BP Nation!

I finally have a deal in escrow but I'll also need to use most of our personal emergency fund to get it closed quick with cash. My plan was for one SFR at a time but this is two SFRs next to each other and a very attractive deal.

Would it be worth it to get a p2p loan to have the cash just in case? It will cash flow $1200 per month using the 50% rule and has long term tenants in place. I'm expecting to build our reserve up quickly but you never know what could happen.

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