All Forum Posts by: Lawrence Rutkowski

Found this thread interesting because I'm currently weighing the pros and cons of "subject to" deals. 

 A huge risk I didn't see addressed (may have just overlooked as I skimmed through) is that of the "due on sale" clause that exists in the majority of conventional loans.  Does the seller own the house outright in this scenario? If not, the bank may require full payment of the remaining balance of the loan, leaving both of you in a pickle.

Any insight you guys could give on the actual probability of the bank demanding cash at title transfer, rather than continuing excepting payments, I would greatly appreciate. 

That is what I was afraid of, but didn't want to leave any stone unturned so to speak.

I have family I could borrow money from, but I would've prefered to go about it alone if it was possible. I think I will borrow money for the down payment on this property, and a year from now will take look into an FHA for the third property and move.

Thank you for the responses.

Hello all,

I am a young investor who just purchased my first duplex roughly 4 months ago. I live in one half and the other half covers my mortgage, plus. So good start there.

I'm looking to buy a triplex or a quad next and I'm wondering what the best course of action regarding financing would be. I already used my FHA loan for my current property.

Is it possible to get a second mortgage with less than 20% down?

Any insight would be much appreciated.

LJ