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Drew Smalley
  • Investor
  • Carmel, IN
0
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8
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How to perpetuate SFH acquisition early on

Drew Smalley
  • Investor
  • Carmel, IN
Posted

Hello,

So I've decided to invest in the next neighborhood over.  I'm buying SFHs with a goal of owning 10 in the next 5-7 years. Right now I have one (jaw dropping I know). These are 90-110k homes that when the right deal comes along can be bought at around 75.  Cool. No problem I can buy 1 a year with an awesome local savings and loan that currently allows as many as properties as I want at 25% down.  I've run into a bit of a snag I'm about to put another 20k down and then poof my nut is gone for another year.  I guess I'm just curious if there is another way I could accelerate this process because It will take approx 15-16 months to save a down payment? The 25% is the only deal I can find. I've not tried alternative finance. Tips, ideas, rants and rhetoric all welcome.... Thanks in advance. 

P.S.  I'm relatively new to the site please consider adding me to your colleague list