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Updated about 9 years ago,
Realistic? Or a pipedream?
Hey BP,
I was wondering if anyone could tell me if this idea is realistic, or just hopes and dreams. To finance my first property, would it be possible to get a loan for the down payment, and finance the rest through either a mortgage or private lender? I was specifically thinking of either a signature loan or a loan through something like LendingClub.com, which is a peer to peer lending site. That would cover most, if not all of the down payment. Then, finance the rest of the deal through something like a hard money lender. Is that possible? Has anyone tried that strategy before?
This would be for my first deal, and I am in the New Orleans, LA area.
Any and all advice and insight on this is greatly appreciated!
Sean