Stuck on financing

[Austin Nix]

Hello everyone! New investor here! I've found a property I like, ran the numbers and want to pursue it. But I don't have the capital for a down payment. A cash out refi would raise my personal mortgage at least $650/month and the cash flow won't really offset that. Same scenario I believe with a HEL or HELOC. I can't think of a way of getting the financing without it placing a possible burden on my family and I. Any answers? Is it as simple as waiting and saving to be in a better financial position? Thanks!

[Malcomb Stapel]

Quote from @Austin Nix:

Hello everyone! New investor here! I've found a property I like, ran the numbers and want to pursue it. But I don't have the capital for a down payment. A cash out refi would raise my personal mortgage at least $650/month and the cash flow won't really offset that. Same scenario I believe with a HEL or HELOC. I can't think of a way of getting the financing without it placing a possible burden on my family and I. Any answers? Is it as simple as waiting and saving to be in a better financial position? Thanks!

 Hey Austin, you hit it on the head in that last sentence. Wait until you can invest from a position of financial security. It's not worth getting over leveraged to make a deal happen. It will just stress you out and leave you constantly worried that everything is going to fall apart.