Landlord Question and Answer Forum
Looking to move from single-family to multi-families investment properties. I'm looking at a simple 4-plex with a down payment of $52,500. Who has that kind of down payment lying around?
Can someone tell me where to seek creative financing, investors, or whatever I need to come up with that down payment?
Thanks!
Robert B, TX on Monday, March 2, 2009
RE: Financing Question
The rule of thumb used to be: the better the credit rating, the lower the down payment BUT in light of the banking system problems it may a bit more difficult. Have you considered partnering with someone? If you are gone to live in the property, you may get more favorable financing. Mortgage brokers are very adept at getting approvals; that may be a good place to start.
Posted by
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on
Tuesday, March 3, 2009
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