Looking for $50k to get my 4th Single Family Home
What kind of interest rate and terms would you look for on $50k for my down payment on a deal. Maybe I'm asking the wrong group here. I have 3 single family homes that I've purchased on my own with 30 year fixed financing. Looking into a total OPM deal. Property meets the 1% rule, is a student rental with a lease for August at 20% COC return (if I were to fund the down payment).
Most Popular Reply
Don't be too focused on the interest rate. In this business there will always be a coulda shoulda or woulda. Truth be told, if your property cash flows well at an interest rate between 7.75%-8.00%, then the interest rate is not what matters too much!