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Updated almost 10 years ago on . Most recent reply
How can I get the downpayment
How can I get the down-payment to buy an apartment building? I need 20,000 as a down payment to buy the building. The price of the building is 120,000. is there any finance companies that can lend money in Illinois.
Most Popular Reply
You got to put "Skins on the Wall". In other words you got to bring money to the table. No lender in there right mind will lend you the money to buy a property. You have to be invested in the property. Every property I have bought I have had to put 20-30 percent down.
If your serious in getting into RE investing you might want to cut back on expenses and get 2nd job on the weekend to start saving for your 1st property purchase. My wife and I did it years ago to buy our 1st home in Miami.
Good Luck.