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Updated almost 5 years ago on . Most recent reply

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Luke Camagna
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Creative financing help

Luke Camagna
Posted

Hi, first time poster here....

So just had an offer accepted on my 2nd multifamily investment property and need a little advice on financing options. Property is a duplex, currently rented for $3500/mo. Purchase price is $350k. Going with a conventional loan I was told I needed 25% down, which after closing cost leaves me around needed a $100k cash needed to close. While I do have the money it may leave me a bit short afterwards and was wondering what other opinions were on this? Should I get creative and take a 2nd loan? Should I look for portfolio investors? Or should I just suck it up and drop the $100k??

Any advice is much appreciated !

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