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Updated over 17 years ago on . Most recent reply

User Stats

131
Posts
3
Votes
Jimmy NA
  • Property Manager
  • CT
3
Votes |
131
Posts

How do I finance this deal?

Jimmy NA
  • Property Manager
  • CT
Posted

My Plan:

Purchase (2) adjacent properties, (3) family and (2) family (separate deeds.) I want my downpayments on each to be as low as possible. A loan representative told a can do 1 closing, 1 loan. Another mortgage rep. told me I need to do 2 closings and pay all the costs associated with 2 purchases. I want to put down as little as possible because I need capital to pave the driveway, side one of the buildings, etc....
The purchase prices would be 80K (3family) and 50K (2family). I would like to finance the closings costs as well. I think they will be about $4500. What is the best possible way to structure this?

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