Updated almost 5 years ago on . Most recent reply
Investor Property Downpayment
Newbie here. I’m currently house-hacking in NYC and so far so good. I’m looking to purchase another property but preferably outside of NYC where I don’t need a jillion dollars as a down payment.
I keep hearing that there are so many different strategies to come up with the down payment for a property. However, in most markets I check out the real estate agent says the same thing to me - my property would be considered an investment property because I’m not living there. And I would have to put down 25%.
What am I missing??? I was hoping to put 10-20% down on a property depending on the price and potential cash flow. How can I purchase without putting down 25%?