Lowest down payment you've had?

Question

I'm interested in hearing what was the lowest down payment you've had to put, where was it, and what type of property/investment type was it for?

Jason Allen · Answer

I put 0% down on my first house-hack. I used a VA loan and negotiated a 2% seller credit. So, at closing I received 12k which I used to rehab the side I moved into. I expect it cash flow $300/mo when I move into my next one.

Russell Brazil · Answer

10% is my lowest, multiple times during the foreclosure crisis.

Melanie P. · Answer

Zero. Gave me high rise condominium outright and I gave them back a note secured by a few paid off rentals.

Shawn Parsh · Answer

Gioser,

I have purchased numerous properties where I negotiated cash back at closing that resulted in me walking away from the closing table with more money then the listed down payment. This is much easier to do on cosmetically distressed properties where you can justify the cash back based on the property condition. You may have to offer a slightly higher price to the seller to entice them to accept your offer, but it is a great way to obtain properties and the cash to rehab them at the same time.

I have also done several deals where I signed a lease option with no money down because of the condition of the property. Then after the rehab I was able to go to the bank and secure a loan large enough to cover the entire negotiated purchase price in the  lease option agreement and the cost of the rehab.

Gioser Acopa · Answer

Nice! I've hadn't heard of something like that being done.

Gioser Acopa · Answer

Just out of curiosity, how's the property doing as far as being a good investment?

Lowest down payment you've had?

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