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Updated almost 15 years ago on . Most recent reply

Reid Mayo's profile image
Reid Mayo's profile image
Reid Mayo
  • from Nashville, Tennessee
  • Member since Apr 24, 2009
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Reid Mayo's profile image
Reid Mayo's profile image
Reid Mayo
  • from Nashville, Tennessee
  • Member since Apr 24, 2009
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Reid Mayo
  • Nashville, TN
3
Votes |
37
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General Landlording & Rental Properties

how to get a small loan

Reid Mayo
  • Nashville, TN
Posted

I know that banks usually don't like to do small loans since they earn a percentage and mortgages are the same amount of work no matter the size. So how do you guys go about getting a small loan? Say I want to buy some property for 25000-30000 to make it cash flow, and I have a $5-10K down payment. how would I find a lender who would give me a $20000 mortgage?

Thanks,
Reid

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Rich Weese's profile image
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Rich Weese
  • #2 Off Topic Contributor
  • Real Estate Investor
  • from the villages, Florida
  • Member since Sep 25, 2008
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Rich Weese's profile image
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Rich Weese
  • #2 Off Topic Contributor
  • Real Estate Investor
  • from the villages, Florida
  • Member since Sep 25, 2008
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Rich Weese#2 Off Topic Contributor
  • Real Estate Investor
  • the villages, FL
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Rich Weese#2 Off Topic Contributor
  • Real Estate Investor
  • the villages, FL
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IF you have other security, you may be able to package multiple properties and get a loan from a local commercial bank. Rich

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