I am working on getting my first deal which would really be a fantastic deal for me. It is a four unit property 100% occupied grossing $2400 month from rents that just hit the market for $130,000. My agent let me in on this one.
The problem I am finding is that just about every bank I talk to says I need 25% down. I can't even have the seller cover that amount, it has to be from me. I don't have that amount of cash on hand. I have talked to local banks and they are not providing 100% financing even if the deal looks sound.
This is very frustrating and upsetting. What do I do?