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Updated over 3 years ago,
Help Getting Lending for a Large Down Payment
Hello everyone! I'll try to be brief and straight to the point. I have been studying and preparing for some time and am finally ready to begin investing in real estate. I know it is uncommon to start this big, but I have come across a great deal for a 54 unit apartment complex. It was foreclosed in 2017 and has been owned and ran by the bank since. Also since then they have hired a property manager and they've taken very good care of the property and now consistently have it at or near full occupancy. The bank has provided me with all the maintenance costs along with the annual taxes and insurance costs, rental income, property info,etc. I've ran the numbers over and over again and needless to say it cash flows very well. My only problem is I don't know how to come up with the down payment. I have a goal amount that I would personally like to profit monthly from the property which still leaves much leftover cash to repay a lender in a very reasonable time frame (even with a higher interest rate). Yes this is my first Real Estate Investment but it's hard to pass on a good opportunity when you see one, and I don't think it's impossible to obtain. So if anyone would be willing to share some advice on getting a lender for the down payment whether through a firm or any other means it would be very greatly appreciated. Thank you all, and God bless.