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Updated over 2 years ago on . Most recent reply

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8
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Shane Wilkins
0
Votes |
8
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checking on loan information

Shane Wilkins
Posted

Does anyone know if there is a loan that can be obtained that does 5% down on an investment property?

I am looking at a duplex for $180k. I don't have the 20% down. This would be my first investment property.

I am in a small area and these don't come up for sale often so I am trying to get it figured out quickly.

Even with only 5% down, it still has $300 in cash flow. 

Most Popular Reply

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37
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20
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Daniel Somers
  • Rental Property Investor
  • Tiffin, OH
20
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37
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Daniel Somers
  • Rental Property Investor
  • Tiffin, OH
Replied

Unfortunately, the answer to your question would be to call as many local banks as you can and ask around. Very time consuming yes, but once you find a good local bank you can work with, you can go to them in the future right away once you find another deal.  

  • Daniel Somers
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