General Real Estate Investing

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John Harber
  • Curtis Bay, MD
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Investment property down payment

John Harber
  • Curtis Bay, MD
Posted Jul 15 2022, 16:28

We are currently working on purchasing a parcel of land connected to our current residence. The Seller has some kinks to work out on the deed and pushed the closing back to 8/31/2022 but seller needs cash immediately so he is putting his residence on the market in hopes to sell it faster to secure some funds. We want to purchase the home as well but with an investment property we need 25% down. This is our first investment property purchase and were wondering what are some options to be able to present to the seller and also come up with the down payment and purchase both the property and the house?

Baltimore, Maryland

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied Jul 16 2022, 05:44
Quote from @John Harber:

We are currently working on purchasing a parcel of land connected to our current residence. The Seller has some kinks to work out on the deed and pushed the closing back to 8/31/2022 but seller needs cash immediately so he is putting his residence on the market in hopes to sell it faster to secure some funds. We want to purchase the home as well but with an investment property we need 25% down. This is our first investment property purchase and were wondering what are some options to be able to present to the seller and also come up with the down payment and purchase both the property and the house?

you could approach Seller about owner financing, but that's only going to work if you have enough cash to meet his immediate needs.
  • Property Manager Wyoming (#12599)

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