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Updated over 11 years ago on . Most recent reply

User Stats

2,158
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920
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Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
920
Votes |
2,158
Posts

My situation

Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
Posted

I have found a property that can be flipped for a nice profit. My problem is getting the mortgage to purchase the property. My wife and I just purchased our first property in July because of this we do not have much equity in our property we live at. I have 20% to put down but that would leave me with little wiggle room to rehab property. I would likely need to bring another investor into the picture but does anyone have any suggestions on how I can get around this dilemma on my own? I guess the big question is is it possible to get a loan for less than 20% on a second property with the intentions of flipping?

  • Shawn Mcenteer
  • 9739753895
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House Hacking New Jersey
5.0 stars
49 Reviews

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