#2 Real Estate Agent Contributor
- Real Estate Broker
- Coppell, TX
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Hacking your down payment.....
#2 Real Estate Agent Contributor
- Real Estate Broker
- Coppell, TX
Lots of new investors and some 1st time home buyers seem to have a tough time envisioning they can ever save enough for a down payment on an investment property.
We see plenty of requests here for JV or FHA financing or some other way to bridge that down payment gap to get started. What are some of the best creative ways you've seen people come up with $10, $20, $30, $40,000 down payments?
HELOCs if they own a primary......cash out refinance if they own a primary.
Borrow from family.
Side hustle for a year....uber/lyft, deliver pizza, Amazon warehouse, PM, cleanout services, garage sale item flips(Gary V style)
Medical Research....some pay $800 or more for simple vaccine research..some pay $5000 for a week of in patient testing.
Trade down cars....flip cars.....saw a guy the other day on youtube flipping riding lawn mowers.
Selling all their excess on FB Marketplace and ebay.
