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Updated almost 9 years ago on . Most recent reply
financing rentals
I have a few properties and now the bank wants 20 percent down and 6 months of payments per property in the bank to cover my payment just in case all of them go vacant at the same time for 6 months. How do they expect anyone to get a loan? What are you doing to finance your rentals? I am not interested in house hacking or the BRRR strategy.
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Steve Vaughan
#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
Buying with seller-financing from tired landlords. No shady land contracts, though. Usually paying 6% for long terms (15+ yrs) with about 10% down. No large reserve requirements!