I reside in VA. I have two properties in GA that I went to inspect this weekend with my business partner, who resides in GA. Both properties are move-in ready and one of them needs minor cosmetic work. My only issue is financing. Lenders that I've talk to told me that the minimum that they can lend me is $50K w/ a down payment of approximately $12K, so ultimately about $62K,give or take. I do not need that much for the rental/investment properties that I want acquire. What do I do?
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Ray
IF you can get the loan and the properties will cash flow, consider using the extra cash to fund more deals or pay down the loan
Thank you. I didn't look at
Thank you. I didn't look at it from that aspect. I will look into it.