All
Members
Companies
Blog
Forums
Podcast
Webinars
    User Log in  /  Sign up
  • Forums
    Newest Posts Trending Discussions Followed Forums Real Estate News & Current Events General Landlording & Rental Properties Buying & Selling Real Estate Deal Analysis See All
  • Education

    Read

    BiggerPockets Blog BPInsights: Expert Analysis Guides Glossary Reviews Member Blogs

    Watch

    Webinars Video Library Financial Independence Blueprint Intro to Real Estate: Rentals

    Listen

    BiggerPockets Real Estate Podcast BiggerPockets Money Podcast BiggerPockets Business Podcast Real Estate Rookie Podcast Daily Podcast (Audio Blog)

    Topics

    Business Operations Finance Finding Deals Property Management Property Types Strategy
  • Network

    Recommended Vendors

    Real Estate Agents Mortgage Lenders Hard Money Lenders Insurance Contractors Investment Companies Build Your Team

    Search

    Members Events Jobs
  • Tools

    Calculators

    Rental Property Fix and Flip BRRRR Rehab Estimator
    Wholesaling Mortgage Payment 70% Rule Airbnb

    Services

    BPInsights: Property Insights Tenant Screening Property Management Lease Agreement Packages

    New Feature

    BPInsights (beta)

    Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood.

    Analyze a property
  • Find Deals
    Real Estate Listings Find Foreclosures External Link Ads, Jobs, and Other
  • Bookstore

    Real Estate Books

    Profit Like The Pros Bidding to Buy See all books

    Featured Book

    BiggerPockets Wealth Magazine book cover
    BiggerPockets Wealth Magazine

    Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! Subscribe today and get the Oct/Nov issue delivered to your door!

    Get the Magazine
  • Pricing
Log In Sign up
User
Quick search links
Podcast Hard Money Lenders Books
ForumsArrowBuying & Selling Real Estate DiscussionArrowGetting down payment
  • Newest Posts
    • Newest Posts
    • Unanswered Discussions
  • Trending
    • Top Discussions
    • Trending Discussions
  • Browse Forums
Search Nova
Create post

Getting down payment

4 Replies

  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
Rotate Log in or sign up to reply
user profile avatar
  • Posts 4
  • Votes 2

Darryl Burkett Jr
from Los Angeles, California

posted about 3 years ago
I want to invest in real estate, but my debt to income ratio is too high. I wanted to fix and flip homes in Las Vegas from 150,000 and lower. How should I go about getting the down payment?
Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Rentals, Analyze Deals, and Team
  • Posts 11K
  • Votes 17K

Nathan G. (Moderator) -
Real Estate Broker from Cody, WY

replied about 3 years ago

I'm sure others will give you some ideas but they'll only drive you deeper into debt.

You want to build a solid future? Start with a solid foundation, which means you need to get your financial life in order. Read "Set For Life" by @Scott Trench . If you start investing without getting your personal affairs in order, you're almost guaranteed to fail.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 3.9K
  • Votes 4.4K

Jason D.
Rental Property Investor from St. Petersburg, Fl

replied about 3 years ago
You will either have to save for it, borrow it, or find a partner that has it. There are things like seller financing, subject to, etc... but you'll have to pick one of those three.
Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Rentals, Team, and Maintenance
  • Posts 261
  • Votes 77

Brandon Reed
Rental Property Investor from Clermont, FL

replied about 3 years ago

Do you have high-interest debt? Credit Cards? If so I’d definitely recommend paying those off before getting the REI ball rolling. If you were looking to use RE as a means to get out of debt...there are certainly ways to get started without incurring more and will help you get “chunks” of cash so you can start focusing long-term (cashflow) more quickly. BP’s Brandon Turner has a good book on investing with “no to low money down” and you can find that in the Store section of the site. Best of luck to you!

Rotate Log in or sign up to reply
user profile avatar
  • Posts 346
  • Votes 170

Louis Davis
Flipper/Rehabber from Las Vegas, NV

replied about 3 years ago

@Darryl Burkett Jr reach out to me and I can walk you through everything. 

Rotate Log in or sign up to reply
  • 1
Related Resources Buying & Selling Real Estate Discussion
Start Your House Hunt Right by Asking These Questions First
Is Doorvest a Good Option for Real Estate Investors?
How to Choose the Right Remote Real Estate Market for You
Home Purchase Fall Through? Don’t Panic: Here’s How to Get Your Earnest Money Back
What Is Underwriting? Here’s What to Expect
Resources Read, see, and learn more!
Link Real Estate Investment Calculators
Link BiggerPockets Blog
Link Path to Purchase
Link Mortgage Loans
Link Find a Contractor
Link Real Estate Agents
Link Hard Money Lenders
Link Real Estate Listings

Top Contributors

Jay Hinrichs
Jay Hinrichs
Lake Oswego OR Summerlin, NV
9.46
Score
Mike Baxter
Mike Baxter
Somewhere in the Scorching Heat of AZ
5.84
Score
Russell Brazil
Russell Brazil
Washington, D.C.
4.37
Score
Mary M.
Mary M.
Portland OR
4.23
Score

Buying & Selling Real Estate Discussion Trending Discussions

  • Should I pay debt with my IRA? or should I invest the IRA?
    12 Replies
  • Is Mindset all that important in REI?
    12 Replies
  • 150+ Days on the Market... Is that a RED Flag? - Toledo Ohio
    5 Replies
  • How to market for grandma's old house?
    4 Replies
  • Selling Rental, 1031 Exchange
    4 Replies
Log in Sign up

Log in

Forgot password?

If you signed up for BiggerPockets via Facebook, you can log in with just one click!

Log in with Facebook

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Let's get started

We just need a few details to get you set up and ready to go!

Use your real name

Use at least 8 characters. Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Why create an account?

Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing.

Connect with 1,000,000+ real estate investors!

Find local real estate meetups and events in your area.

Start analyzing real estate properties, we do the math for you.

It's free!

Explore

  • Membership
  • Community
  • Education
  • Marketplace
  • Tools
  • FilePlace
  • REI Resources
  • Perks
  • Glossary
  • Reviews
  • iOS App
  • Android App

Company

  • About Us
  • Press
  • Advertising
  • Careers
  • Stats
  • Contact Us

Important

  • Editorial Guidelines
  • Terms of Use
  • Rules
  • Privacy
  • FAQ

Social

  • Facebook
  • Twitter
  • YouTube
  • Instagram
© 2004-2021 BiggerPockets, LLC. All Rights Reserved.