Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Innovative Strategies
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

6
Posts
0
Votes
Bryan Wilson
  • Calgary, Alberta
0
Votes |
6
Posts

Creative Financing options

Bryan Wilson
  • Calgary, Alberta
Posted

Hi everyone,

Here's what's up:  I currently own two properties, both which have businesses running out of them and one rental suite all totalled bringing in $13,000 gross/mo. I am recently approved by my bank for $450K mortgage to buy a new property, but they are requiring 35% down payment, which would mean selling one property. I have a down payment up to $90K but don't want to use all of it, and don't want to sell a property (as I am looking to increase). The property I am looking at buying is a multi-family 4-plex (brings in $3250/mo approx.)

My question is, what is the best (or most creative way) to keep my two current properties, while lowering my down payment for a third property, and avoid the bank (or at least the 35%)? I am having trouble sourcing a decent private investment option. Any advice would be much appreciated! Thank you in advance! 

Sincerely,

Bryan W

Loading replies...