Quote from @George S freeman:
lo down payment solutions
What type of financing were you looking for? If this is for your primary residence there are a couple of programs that offer DPA.
Here in California there is the Forgivable Equity Program that helps you with 3-5% of the down payment and is forgiven after 5 years.
There is also the Chenoa Fund DPA for FHA loans. There are both forgivable and repayable version that help you with 3.5%-5% of the downpayment.
If this is for an investment property, cross collateralizing other properties could work to achieve 100% financing. Or using a HELOC & Cash-out proceeds from your primary can also help you achieve low to no money down.
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@George S freeman
Finding money for down payment and having no money down to put in a deal, even if found is a very bad idea as you have zero equity and are over leveraged
Some may praise the fact that you have no money in the deal but the slightest bump in the road and you have negative equity and you are hamstrung on what you can do.
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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Read the bigger pockets book "Raising private capital"
Find a deal, money will find you
Hey @George S freeman - typically if you have a good deal on hand, you won't have trouble finding investors.
The easiest way to find money is to go to RE networking events and let people know you're on the hunt for a deal and will need backers as soon as you find something. People have money to spend, just not the deals to put them in.
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#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
You are in the motivated seller business.
Find those and funding will follow.
Hi George,
One option that could work for that purpose is to get unsecured funding. It's out there and available from lenders who don't have as strict criteria as conventional banks.
Best,
Dave
thank you Dave i appreciate you replying, i am brand new to real estate , just bought my first house in las vegas, so i'm lo on funds , would like to possibly buy a rental property, i only have 10k to work with
Quote from @George S freeman:
thank you Dave i appreciate you replying, i am brand new to real estate , just bought my first house in las vegas, so i'm lo on funds , would like to possibly buy a rental property, i only have 10k to work with
I've raised capital for down payments to buy rental properties. Happy to discuss.
Quote from @Austin Fowler:
Quote from @George S freeman:
thank you Dave i appreciate you replying, i am brand new to real estate , just bought my first house in las vegas, so i'm lo on funds , would like to possibly buy a rental property, i only have 10k to work with
I've raised capital for down payments to buy rental properties. Happy to discuss.
Quote from @George S freeman:
Quote from @Austin Fowler:
Quote from @George S freeman:
thank you Dave i appreciate you replying, i am brand new to real estate , just bought my first house in las vegas, so i'm lo on funds , would like to possibly buy a rental property, i only have 10k to work with
I've raised capital for down payments to buy rental properties. Happy to discuss.
631 294 9538 please help me
