How can I get around down payment to buy more homes? I used most of my cash on down payment on fist retail. Will asking seller to pay closing and down payment, truly be no out of pocket money.
Sorry its late at night. Its Rental house not retail . I have good cash flow coming from first rental, is waiting and building up cash the best bet.
There are a handful of loans that allow for 100% financing of investment property…
There are several posters on this forum that could potentially assist you.
Regards,
Scott Miller
If the cash flow can support it, go with 100% financing and ask the seller to contribute 3% to cover closing costs.
being your credit scorces up to 700s, the banks will do anything
My mortgage broker told me because the house is with in 40 miles of my first house its investment loan so need at less 10% down. He also said, I had to pay 3% of the 10% even if seller cover closing. Is this because of the investment property. The house I live in, loan is 80% 20% with no money down. Can I do something like this on investment property.
You can get 100% financing on investment with greatr credit over 720, assets and a good property/deal. Few lenders do this but it is still available