Quad Plex - Lenders Finance for 20%

[Devan R.]

I have a direct sell to purchase a quad plex in Jacksonville, FL. 

My current quad plex that I purchased 2 months ago is right next to the new one that I'm trying to acquire. I went through Quicken Loans for this purchase and had to put 25% down plus the closing cost.

I'm trying to preserve my capital and looking for lenders that will finance for 20% on a quad plex in Jacksonville, FL. The estimated price is $275,000.

Thanks in advance 

[Nghi Le]

It's possible to get 80% LTV on a purchase of a 4-plex, assuming it's stabilized and cashflowing well, through an asset-based rental loan for LLCs. But rates are going to be in the 6's instead of what you're used to with a conventional loan. Underwriting would be much easier and faster though.