Updated over 7 years ago on . Most recent reply
DOWNPAYMENT!
I thought maybe I would ask you all about this problem I have getting started. I have found an investment property that I want for a rental. I have talked to some lenders and I can get a loan but I have to have a down payment, obviously. I really just don't have 20% laying around. So is there any way to get that if you don't have it on hand? I probably missed a discussion on this already, but I figure it doesn't hurt to ask again. THANKS!
Most Popular Reply
There are a lot of ways to buy property without that down payment. You can search here or buy Brandon Turners book on buying property with little money down. You can get it in the BP store under the resources tab,
If you buy with no money down that is a risk in itself as you have no equity. If you have no money at all, that is a tremendous risk. You need to have cash reserves for unforeseen problems. Trust me, you will have unforeseen problems, especially on your first property.