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Updated over 11 years ago,
Peer loan just in case?
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.