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Updated almost 6 years ago on . Most recent reply
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I am in financing HELL Help!!
I am having trouble figuring out which oan product to choose with what down payment I currently have 15,000. I have speken t several banks credit not an issue. the 4 plex I am looking at is 169,900 mad and offer for 140,000 contingent upon inspection etc. and 2% or half of the closing cost. I expect to meet in the middle somehwere. the banks want 25% down I only have 15,000 down any suggestions.
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FYI I turned a liability into an asset to get the 12,000 closing cost and down payment. My husbands truck that we use to pull our 44 ft. toy hauler RV from job to job was inconvently struck by lightening a month ago. We paid so much into the principle of that truck that we had push 12,800.00 in equity into it upon trade in. I have never heard of a truck being struck by lightening its almost a God send I was trying so hard to figure out how to get my closing cost down payment for this deal that the minute I stopped trying it slapped me in the face. I was also investing in some stocks that have recently started going crazy that has also helped me attain extra money to assist with fixing the 4 plex up and pushing the rents up more to increase the cash flow. It just goes to show that there is money every where in your life if your looking in the rite places for it.