Silent Second Lender

[Brannon Harnish]

Hi all - 

I am a real estate investor looking to grow my portfolio. I have about $100k available in cash to buy my next few investment properties. I am looking for turnkey homes in the $60-85k purchase price range ( I have several I am actively pursuing) I am hoping to keep as much of my capital as liquid as possible for payment reserves/CapX that may arise. 

I am looking for a silent second investor to assist on down payments. Maybe in the form of a line of credit or note. Has anyone found any private lenders that have an appetite for such deals? 

I am using a DSCR lender for the mortgage. 20% down

[Brannon Harnish]

Quote from @Erik Estrada:

You can get a seller second, however the minimum down payment you will need is 10%. You still need skin in the game. 

Make sure you vet your lenders well. You do not want this going sideways once you are under contract and send out your EMD...There is no DSCR lender comfortable doing 100% financing, unless you are using funds from a HELOC for the down payment and closing.

 Thanks - I also have a few more questions for the lender….

This isn’t my first rental, I have a few but am looking to purchase 4-5 more this year.