4-Plex in San Antonio (Financing Question)

[Chuck Gafford]

Situation: So a great 4-plex just came back on the market that we would love to buy it, as it already cash-flows (with tenants) and is in an appreciating area.

Problem: We do not have the 25% down ~$110K that most lenders require.

Options: we do have 2 other rental properties out of state with significant equity, and we have excellent credit

Question:  What is the best financing option to acquire this property with the lowest down payment and closing costs?

[Jason Hirko]

@Chuck Gafford What's the as-is value? Any value add opportunities? I have a lot of clients that are buying $400k 4 plexes in places like Beacon Hill, King William, and Tobin Hill, putting $50k into them, and refinancing them with a credit union when hey appraise for $500k+. None are putting 25% down on the hard money, and the LTV of the long-term refinance is based on the new appraised value, not what you paid