Personal loan for down payment? Can’t miss opportunity..

[Lawrence Holloway]

I'm stuck! I have a great opportunity to acquire 12 SFR cash-flowing at $10,210. But the down payment needed from most lenders is 25%. I can only do 10-20%. I need $75,000 for the down payment. I have great credit, but I've been building my credit for the best rates and terms for the commercial loan! I'm considering just getting a personal loan for the down payment, but it'll destroy my credit.

Anybody have suggestions on how I can come up with this down payment?

Does anyone know of any lenders that will roll the down payment into the mortgage? (I don’t care if the mortgage is 5k! I’m cash flowing 10,210) Or any lenders that will take 10% down payments?

I cant stress urgency enough guys

I’m located in Cincinnati, OH

Thanks everyone

[Scott Jensen]

You may be able to get the money out of retirement accounts.

• Do you have a Roth IRA? You can take out your basis (the amount you put in).
• Do you have a 401(k)? You can take a loan for up to 50% of the balance up to $50k.
• Do you have an IRA? One time per year you can withdraw money (no limit) and put it back in the account before 60 days. BEFORE 60 DAYS. If you don't get it back in there before 60 days it is treated as an early distribution and you pay taxes and penalties. Be really careful with this one; its easy to mess up. Ask a CPA or financial planner to help if you want to go this route. 

Do any of those work for you?