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Updated over 4 years ago,
15% down on multi 4 plex properties
Hi all, I have several sfr rentals and want to move up to 4 plexes. I’ve been doing 30 year mortgages on my rentals. Question is - do any lenders only require 15% down. I know the risks but the properties I am looking at are in good areas and go for 250-300k - and go fast. I have 50-75k in cash but don’t want to throw all that on one property down payment. That would handicap me for improvements and other properties.
Id like to stick to a 30 year for cash flow purposes and I know you can on a 4 plex. What types of financing is out there? Thanks.