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Updated about 2 years ago,

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Is it a good idea to use a personal loan as down payment?

Mohammed Milord
Posted

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???

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