All Forum Posts by: Roman Singh

Hello Roman!  You never mentioned what you are going to be doing in that second purchase.  That really is important with your answers.  You might try to the Owner about his/her doing the loan.  They are typically more negotiable.  You will get them to  help you if you show them on paper how they will make more money and spread out their income over the life of that loan balance.

You might consider a Private Money Lender.  They are typically very reasoning with your parameter.  They, like the Owner, look at the deal more so than you.  Their loans usually last about 12 months.  They will typically help you out with the amount of the down payment. Besides the primary loan they will finance the repair/rehab cost too.  I would be surprised if they will make a loan with you that is just you that is responsible.

Good luck to you!

My recommendation would be, if you have someone that could co-sign, is a house hack, go out and find a duplex that would make sense (close to work and places you hang out). Live in one unit and rent out the other, make sure the numbers work for you while you're in the house, and once you move out. This way you can get an asset for relatively low money down!