Looking to purchase investment property #2!

[Tom Canterino]

Hello BP! 

I wanted to know if anyone could help advise on opportunities to purchase a second investment property without 20% down. Is this doable? Are their loans out there that would require less than 20% down? I purchased my first property early last year and have owned it for over a year now, cash flows nicely, and I am looking to purchase another. 

I also wanted to know if anyone has had success with contacting owners of multifamily houses that aren't currently for sale but asking them if they are looking to sell now and in the future? 

Any help or guidance is appreciated. I am located in the Rhode Island area as well.

Thanks in advance!

Tom

[Nelson Taylor]

Eric Lichatin at Centreville Bank has a product for 15% down with seller holding a 10% second. And Ann Sabbagh at Seacoast Mortgage has access to another product with 15% down and a few other parameters I can’t remember. Best of luck in your pursuit!