Alternatives to Traditional

[Andrew Nuttall]

Pretty simple issue, new investor who moved into a new house 2 years ago a bought a single family unit last November, who is having trouble financing a larger multi unit. With very conservative numbers I have found two deals locally, one a 8 unit for 515k and a 3 unit for 225k. Both fully rented and making 10+ cap rates that would easily cash flow $100+ per unit even at 100% financing assuming 30years and 5%. The problem is my debt to income is right around 45% already thanks to 100% financing my first property, and I don't have cash on hand for the 25% that is required for traditional multi units. Are there credit unions or private lenders who do things like 100% for 30 years? I'm in the suburbs of Philly if that helps. Any other ideas? I do have the Little or No Money Down book ordered so maybe that will answer some questions.