Hi all,Tell me if this is a good idea or not:There are multi-family properties I'm interested in buying, but I don't have enough cash to cover the down payment + fees without wiping out.I was thinking of taking out a personal loan to cover between 20 to 50% of a 25% down payment.

This seems the best engine to get into buy and hold.While my credit score is in good shape at 793, the down payment is the major roadblock.  

Hi Emmanuel, Without knowing the specifics of your situation ( income and debts) the answer is it could and it couldn't. when buying a multi family home the down payment is 25% for a duplex 30% for 3-4 units. obviously if are buying a rental property, potential rental income will be factored in.  

It was offered to a relative of mine as payment for services rendered, meaning we risk losing nothing here.

Owner said has long term tenant on one side of 9 years , building has had  great rental history.  600*2=1200 monthly1200*12= 14400 yearly taxes/insurance =2800 yearlyrepairs/maintenance 10%= 1440vacancy 10%=1440 14400-2800-1440-1440=8720 NOI20% down on 99000 @ 4% interest 30 years =19980 mortgage payment roughly 382 a month /382*12= 4584(NOI )8720 - (debt service )4584= 4136 monthly cash flowcash flow 4136 / (money invested) 19980 =20% ROIAm i missing anything here ?

Hello fellow Pocketiers, I have a quick question related to commercial loan.Normally bank would ask 30% down-payment on loan.

of course every state is different but I know In our state Oregon commercial is far different than resi.. you can lock it up right after non payment.. just think of resturants you see closed and locked.

I refinanced it during the seventh month at a value of $260,000, and got most of my initial down payment back out!

Right now I have about 10k that I could put as a down payment.

When we asked for the down payment back he wrote a $600 check and said the rest of the money went to his costs... $1400 for gas and a 6x6 inch block of concrete?!?!