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Updated about 2 years ago,
Is it a good idea to use a personal loan as down payment?
Hi everyone,
I'm new to real estate investing and I'm trying to think of different creative ways for financing my first investment property. I would like to invest Out of State but I don't have enough money for a down payment for a property. I know that for an investment property, you would need 20% down. I don't want to save up money for a down payment because that could take forever for me to come up with the money. I was thinking of using a personal loan as a down payment, and then using a DSCR loan. Is this a good strategy for financing???