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Acquiring Financing

zaiteku

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Dec 10, 2007
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Hey guys,

any ideas on how I can secure financing to buy a second property (to be used as a rental) and get around the 25% down minimum that is typical nowadays?

I know I could partner with another investor, or secure more exotic forms of finaning, but has anyone been getting typical loans with less than 25% down somehow?

-Ty
 
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D

DeletedUser2

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stop using banks,

start using portfolio investors.

otherwise, if you use banks you use their rules. and right now with the past fraud, everyone is getting the extra special exam these days so no sneaky stuff.
 

yahdmon

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What are portfolio investors? Where do you find them? How can you tell the good ones from the bad ones -- sure to be some bad apples here too?

stop using banks,

start using portfolio investors.

otherwise, if you use banks you use their rules. and right now with the past fraud, everyone is getting the extra special exam these days so no sneaky stuff.
 

PatrickP

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I think in many parts of the country you can just call a real estate agent and ask for owner financed properties for sale and they will have at least a few.

There are many well off people who have one house already paid off but wanted to move so bought a new house and left the first one empty. They don't want to be bothered renting it out so they are willing to hold a good chunk of the financing BUT they most likely will want close to or at top dollar.

As the saying goes your price my terms or vice versa.
 
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hatterasguy

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Hard money, but its going to be very expensive.

Can you pull any equity out of the first property to do it? That's a good way.

My best advice is save up cash, its king.
 
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