Investor · Miami, FL · Member since 2017 · 30 posts · 6 votes
This is an area I believe not often explored and has led many to waste a lot of time waiting to
refinance or worst waiting for appreciation, while great cash cow deals pass them by weeks after weeks, months after months, years after years.
What if you can get all the money you need to go on to your next great deal, now? I am not talking about a loan anyone can get hard money on a great deal. I'm talking about bridging that gap how about getting down payment assistance to close that great investment deal you find?
A dream lender to show proof of funds for you and cover earnest money and the remaining 20-30 or even 40% plus the closing cost to close the deal. (GAME OVER)
Has anyone out there find such a lender? Has anyone even think of searching for one? well
I have started my search last week and found some interesting prospects I will share later, but I thought I might put this out there as this cant be an original thought or idea I know there are DPAs for homebuyers but are there any DPA at all for investors?
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
6y
@Brian Halstead Downpayment Assistance Programs are usually for primary home buyers. There might be tax incentives to buying an investment property in a certain area but there aren't really solutions for downpayments. That's why the BRRRR strategy is so critical for most of us. Without the BRRRR method we would be beholden to having a high downpayments. The BRRRR strategy allows us to purchase with little out of pocket or to refinance and get our out of pocket back. The hardest step is finding properties that fit the mold. Hope that makes sense.
Investor · Miami, FL · Member since 2017 · 30 posts · 6 votes
6y
@Andrew Postell Thank for your reply and that makes perfect sense, but I already know
what you explained. I am trying to get investors to think outside of the box including (BRRR) and find downpayment assistance on a great property that has the cash flow to support 100% financing. I know its kinda hard for investors to wrap their minds around but what I am asking is for us to seek a solution and not state the obvious obstacles that we know exist. I mean with the right property this should not be an impossible task. So my question remains, where can investors downpayment assistance be found?