Down payment money for next property.

[Victor Alvarado]

Hello all!  So Im planning on purchasing more residential property with traditional bank funding. My problem is the down payment money. How is everyone accumulating downpayment money? I bought my first duplex by saving up but that takes forever. What is everyone here doing for this?

Thanks

[Ray Harrell]

This is the thing all the real estate gurus don't tell you. You have to be rich to really get into real estate. They say stuff like "pull equity out of another property" not realizing that you JUST bought your FIRST property, and bought it higher than market value and have NO equity!

They post responses on this board like everyone has 50 properties and $8 million in liquid cash. That's very discouraging to those of us just getting started. Not all of us had trust funds from Mommy to buy our first 30 properties.