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Updated about 5 years ago,
short term down payment loan until my other property sells
Question for you guys - I've found an investment property that I REALLY want, believe is a great deal, and will be very profitable long term. Purchase price $480k. So need $96K for 20% down payment. I own another property (no mortgage) that I've listed for sale at $139k, so obviously that would cover the down payment, problem is it's not going to sell before I need to make an offer on this new property (which is now). What is the best way to go about getting a short term $96k loan for the down payment on my new property, which I will be able to pay back as soon as my old property sells? Thanks so much everybody!