Developer · Augusta, GA · Member since 2018 · 40 posts · 20 votes
BP,
Hows everyone doing? I’m in need of help rather quickly.
Background:
I’ve placed an offer on a 3-1 single family property in Georgia. I’m looking for creative financing to fund the property’s down payment. The down payment amount is about $12k total. I’d like to pay low or no money down to save capital for the next deal & perhaps a few small renovations.
Current Situation:
My offer has been accepted and I have 9 days of due diligence remaining.
My Ask:
Without reading “The Book on Investing in Real Estate with No (or Low) Money Down” YET...
What are some methods/strategies to lower my upfront costs for the down payment, while not getting beat up on interest rates?
Thanks for the support.
Chris
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
8y
Best bet is VA loan f you have that, fha or 5 percent conventional.
You’ll need the downpayment plus 4-5k in closing costs depending on taxes and insurance
Vandalia, MI · Member since 2018 · 569 posts · 264 votes
8y
I would like to say that you can get an equity partner to help but your deadline is too close for that to go through. I don't think I can help on this one. Sorry. Happy Hunting.