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Updated over 9 years ago on . Most recent reply

User Stats

32
Posts
2
Votes
Ryan Detzel
  • Wilmington, MA
2
Votes |
32
Posts

Creative way to finance when we already own a primary residence

Ryan Detzel
  • Wilmington, MA
Posted

I want to try a flip first to see if A) I can handle the time commitment and B) is it a good way to raise funds for future investment properties. My question is what's the best way to get a loan without the 20% down?

  • We currently own our house so this would be a second home
  • We have credit scores in the 800's
  • We make ~$250k/year

We have (or better yet, my wife wont let me) spend that much on a downpayment so I need to get creative.

Do I have any options or should I save/convince her to risk some money on this?

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