Down Payment and Reserves?
Hey everybody!
Motivated newbie trying to get in the game, but thinking I might not have realistic expectations? Let me explain. I've been saving cash and researching multifamilies in my area. They range from 200k-300k. Now, I have nowhere near 20 percent down and consequently nowhere enough in reserves, obviously. Besides an FHA loan house-hack would I just essentially need to grind it out until I could make the downpayment? And then utilize the BRRR strategy to acquire more properties?
Would love your thoughts and maybe an example of "no money" down type rental. And I haven't got the book yet but it's on my list after reading the book on estimating rehab costs ;)