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Updated over 2 years ago,
Are there high loan to value options besides VA/FHA?
I'm sure theres an answer in the forums somewhere, but I got tired of looking.
We are currently under contract for our first investment property, a duplex for a just over $100k doing it with traditional financing in our personal name, and then going to flip into the LLC in a few months. 25% down, and then it cashflows around $400 per month.
We were also looking for a fix and flip to hold long term, but a 4 unit just came on the market that is basically ready to go, and fully rented. The rents are definitely below market, but even with that being the case it still cashflows about $550 per month, but its about $170k, and it would be stretching us to thin to do another 25% down, but would love to jump on it as well.
Any input would be greatly appreciated.
PS: We have equity in our home, but not willing to pull it out because we plan to move in a year or two and use the equity from our sale to cover the downpayment on the new house.