Starting Out With Little Money To Put Down!

[Jerry Padilla]

First step is getting pre-approved for a mortgage and seeing what you can qualify for.......

An FHA mortgage allows you to purchase up to a 4 unit property as an owner occupied with only 3.5% down!

You can ask for Sellers Concessions when making an offer on a property - which can go towards your closings costs.

The lender I work for also offers lender credit - to assist with closings costs if you would rather go this route, or if sellers concessions are not able to be asked for, for some reason or another.

Start saving the additional income you get in rent above your mortgage to purchase your next investment property. If it is at least a year or so down the road you may want to look at the option of purchasing another multi-family residence with only needing a little money down you can go conventional!

I am glad to answer any questions or concerns you may have regarding financing. I am also an investor myself so I can sympathize.

[Jerry Padilla]

The 3.5 percent down is a requirement. When negotiating a deal closing costs could be asked to be paid for by the seller.