Skip to content
Starting Out

User Stats

30
Posts
12
Votes
George S freeman
Pro Member
12
Votes |
30
Posts

User Stats

10,525
Posts
11,837
Votes
Bruce Woodruff
Pro Member
#4 All Forums Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
11,837
Votes |
10,525
Posts
Bruce Woodruff
Pro Member
#4 All Forums Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
Replied Oct 24 2022, 18:47

Impossible to answer when you give us zero background info. Where are you? How much are houses/apts where you live? How much do you make/have? Do you want to invest OOS?

Basic answer - take the average house price where you live and save up 20% of that number. If you are in a real expensive state, then move and find an affordable area.

Hint - More important than money is knowledge....

User Stats

9,861
Posts
5,503
Votes
Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
5,503
Votes |
9,861
Posts
Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
Replied Oct 24 2022, 20:18

Zero, you can seller finance a home with 0% down 

BiggerPockets logo
Meet Investor-Friendly Agents
|
BiggerPockets
Network with top investor-friendly agents who can help you find, analyze, and close your next deal.

User Stats

13,013
Posts
18,932
Votes
Joe Villeneuve
Pro Member
#4 All Forums Contributor
  • Plymouth, MI
18,932
Votes |
13,013
Posts
Joe Villeneuve
Pro Member
#4 All Forums Contributor
  • Plymouth, MI
Replied Oct 24 2022, 20:44

See answers above.  20% of the cost of properties you want to buy, or 0% if you're using seller financing.  Actually that 0% doesn't mean no money.  You'll need cash available for operating costs such as Motrin, etc...

User Stats

30
Posts
12
Votes
George S freeman
Pro Member
12
Votes |
30
Posts
George S freeman
Pro Member
Replied Oct 24 2022, 20:50

i live in Las Vegas, i just bought my first house for 330k, im a truck driver making 100k! what is OOS?

User Stats

30
Posts
12
Votes
George S freeman
Pro Member
12
Votes |
30
Posts
George S freeman
Pro Member
Replied Oct 24 2022, 20:52
Quote from @Eliott Elias:

Zero, you can seller finance a home with 0% down 


 is that possible, 0% down!!

User Stats

24,942
Posts
37,103
Votes
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
37,103
Votes |
24,942
Posts
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied Oct 25 2022, 04:35
Quote from @George S freeman:

how much money do i need to become an investor


All of it. None of it.

You need money, but it doesn't have to be your money. You can partner with others that have money but don't have the time, knowledge, patience, or hustle to put deals together. They provide the cash, you put the deals together and manage them, and you split the profits.

"Investing in Real Estate With No (And Low) Money Down" by Brandon Turner

  • Property Manager Wyoming (#12599)

American West Realty & Management Logo

User Stats

1,503
Posts
1,156
Votes
Nate Sanow
Pro Member
  • I​nvestor & Agent
  • Tulsa, OK
1,156
Votes |
1,503
Posts
Nate Sanow
Pro Member
  • I​nvestor & Agent
  • Tulsa, OK
Replied Oct 25 2022, 06:14

It can be as low as $0 with a strong mindset and a good business partner. 

User Stats

9,861
Posts
5,503
Votes
Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
5,503
Votes |
9,861
Posts
Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
Replied Oct 25 2022, 06:44
Quote from @George S freeman:
Quote from @Eliott Elias:

Zero, you can seller finance a home with 0% down 


 is that possible, 0% down!!


Account Closed
  • Investor
  • Denver, CO
78
Votes |
184
Posts
Account Closed
  • Investor
  • Denver, CO
Replied Oct 25 2022, 07:33

Our clients who purchase their first investment property are in the range of $125,000 - $150,000. Since it's an investment, you'll have to put down 20% minimum. Including closing costs and other misc. fees, they're all in from $30,000 - $55,000. 

Then again, you can put down as little as 3% on your primary and eventually rent that out when you're ready to move. 

Does vary. No less than $10k usually. 

User Stats

30
Posts
12
Votes
George S freeman
Pro Member
12
Votes |
30
Posts
George S freeman
Pro Member
Replied Nov 24 2022, 07:53
Quote from @Bruce Woodruff:

Impossible to answer when you give us zero background info. Where are you? How much are houses/apts where you live? How much do you make/have? Do you want to invest OOS?

Basic answer - take the average house price where you live and save up 20% of that number. If you are in a real expensive state, then move and find an affordable area.

Hint - More important than money is knowledge..

User Stats

4,949
Posts
2,901
Votes
Bob Stevens
Pro Member
#3 Rehabbing & House Flipping Contributor
  • Real Estate Consultant
  • Cleveland
2,901
Votes |
4,949
Posts
Bob Stevens
Pro Member
#3 Rehabbing & House Flipping Contributor
  • Real Estate Consultant
  • Cleveland
Replied Nov 24 2022, 07:54
Quote from @George S freeman:

how much money do i need to become an investor


 Impossible to answer, connect with someone doing deals, learn then apply what you learn

Good luck 

User Stats

30
Posts
12
Votes
George S freeman
Pro Member
12
Votes |
30
Posts
George S freeman
Pro Member
Replied Nov 24 2022, 07:55

i live in las vegas ! i just bought my first house in Henderson for 330k

BiggerPockets logo
BiggerPockets
|
Sponsored
Find an investor-friendly agent in your market TODAY Get matched with our network of trusted, local, investor friendly agents in under 2 minutes

User Stats

30
Posts
12
Votes
George S freeman
Pro Member
12
Votes |
30
Posts
George S freeman
Pro Member
Replied Nov 24 2022, 07:56
Quote from @George S freeman:

i live in las vegas ! i just bought my first house in Henderson for 330k

User Stats

2,056
Posts
1,909
Votes
V.G Jason
Pro Member
  • Rental Property Investor
1,909
Votes |
2,056
Posts
V.G Jason
Pro Member
  • Rental Property Investor
Replied Nov 24 2022, 08:02

Hijacking thread, as it's relevant to myself & others I imagine. How much money do you need for the following, assuming all single family homes:

1) 150k investment house
2) 250k investment house
3) 500k investment house
4) 750k investment house
5) 1mil + investment house.


For option #1, my math was the below if I want to buy in an LLC:

$37,500(downpayment)
$5,600(approx 5% for closing costs on remaining loan amt)
$6,750(rent reserves assuming 1500/mo rental for 3-6 months)
$10,000(capex reserves just to start)
$1,500(LLC formation)
$2,250(45-day estimate to rent out property losing rental money)
$1,500(1 month payment to property manager for tenant placement)
$1,800(monthly management fee 10% of $150 for 12 months, paid monthly but allocated annually for budget)

So just under $67k.I imagine this math plays linearly to other properties at different price points?

User Stats

30
Posts
12
Votes
George S freeman
Pro Member
12
Votes |
30
Posts
George S freeman
Pro Member
Replied Nov 24 2022, 08:14
Quote from @V.G Jason:

Hijacking thread, as it's relevant to myself & others I imagine. How much money do you need for the following, assuming all single family homes:

1) 150k investment house
2) 250k investment house
3) 500k investment house
4) 750k investment house
5) 1mil + investment house.


For option #1, my math was the below if I want to buy in an LLC:

$37,500(downpayment)
$5,600(approx 5% for closing costs on remaining loan amt)
$6,750(rent reserves assuming 1500/mo rental for 3-6 months)
$10,000(capex reserves just to start)
$1,500(LLC formation)
$2,250(45-day estimate to rent out property losing rental money)
$1,500(1 month payment to property manager for tenant placement)
$1,800(monthly management fee 10% of $150 for 12 months, paid monthly but allocated annually for budget)

So just under $67k.I imagine this math plays linearly to other properties at different price points?


User Stats

30
Posts
12
Votes
George S freeman
Pro Member
12
Votes |
30
Posts
George S freeman
Pro Member
Replied Nov 24 2022, 08:18

thank you so much i appreciate your response this helps a lot

is there anyway for me to get in if i dont have the 70k or just save save save!

User Stats

30
Posts
12
Votes
George S freeman
Pro Member
12
Votes |
30
Posts
George S freeman
Pro Member
Replied Nov 24 2022, 08:27
Quote from @George S freeman:

thank you so much i appreciate your response this helps a lot

is there anyway for me to get in if i dont have the 70k or just save save save!


 so in short in this area in Henderson for 335k single family i need 70k

User Stats

6,823
Posts
8,398
Votes
Bill Brandt#2 Creative Real Estate Financing Contributor
  • Investor
  • Las Vegas, NV
8,398
Votes |
6,823
Posts
Bill Brandt#2 Creative Real Estate Financing Contributor
  • Investor
  • Las Vegas, NV
Replied Nov 24 2022, 10:02

If you can househack with a roommate you need $30k less down payment, 1500 less no llc (I wouldn’t do the other way anyway, but whatever),save  $1800 pm first month (I also wouldn’t pay that when so many will do it for a few hundred, but whatever), $3,000 less rent reserves and $1,000 less lost to vacancy. That puts you in at under $30k.  In a year you repeat the process moving yourself and your roommate to the new property and starting to rent out your old property. Hence you get two properties for $60k instead of 1 for $67k. 

User Stats

4,668
Posts
4,769
Votes
Scott Mac
  • Austin, TX
4,769
Votes |
4,668
Posts
Scott Mac
  • Austin, TX
Replied Nov 24 2022, 10:15
Quote from @Eliott Elias:

Zero, you can seller finance a home with 0% down 


Hi Elliot,

Are you seeing zero down deals happening in Austin yet (???)

Or do you think they might be coming in the future (???)

User Stats

1,146
Posts
622
Votes
Jay Thomas
  • Real Estate Agent
622
Votes |
1,146
Posts
Jay Thomas
  • Real Estate Agent
Replied Nov 24 2022, 10:37

Investing does not have to be an expensive endeavor. With the right mindset and knowledge, anyone can become an investor with no money.

User Stats

426
Posts
558
Votes
Eric Gerakos
  • Investor
  • Costa Mesa, CA
558
Votes |
426
Posts
Eric Gerakos
  • Investor
  • Costa Mesa, CA
Replied Nov 24 2022, 11:26

$17.48.

User Stats

9,861
Posts
5,503
Votes
Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
5,503
Votes |
9,861
Posts
Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
Replied Nov 24 2022, 19:42
Quote from @Scott Mac:
Quote from @Eliott Elias:

Zero, you can seller finance a home with 0% down 


Hi Elliot,

Are you seeing zero down deals happening in Austin yet (???)

Or do you think they might be coming in the future (???)


 Am seeing this in Killeen Texas 

User Stats

2,032
Posts
1,102
Votes
Mike Reynolds
Pro Member
  • construction
  • Nacogdoches, TX
1,102
Votes |
2,032
Posts
Mike Reynolds
Pro Member
  • construction
  • Nacogdoches, TX
Replied Nov 24 2022, 21:15
Quote from @George S freeman:

how much money do i need to become an investor

$1.99

The rest is all up to you. 

User Stats

81
Posts
81
Votes
Lucien Perreault
  • Investor
  • Chicago, IL
81
Votes |
81
Posts
Lucien Perreault
  • Investor
  • Chicago, IL
Replied Nov 25 2022, 02:46

@George S freeman

Hi George. Judging by your question, I will assume your knowledge and experience in real estate is very limited. Instead of asking how much money you need, ask yourself what do you need to know to start investing. Learn the game and you’ll figure out the money part.

User Stats

26
Posts
5
Votes
Rami Sobhani
  • New to Real Estate
  • London, ON
5
Votes |
26
Posts
Rami Sobhani
  • New to Real Estate
  • London, ON
Replied Nov 25 2022, 06:08

Focus on education and how to structure a deal that is my opinion