New and looking to connect with others to learn how to invest
Hi, I am a Realtor in the Tampa Bay area and surrounding counties. I worked with investors that have purchased large track of land to buy and hold. I also own a home that we just started Airbnb in the middle of October. Wow , It is awesome. The home is way out in the woods and I would have never thought that it would be booked, but Its is Rocking! Wanting to purchase more. The home I have now Is on property my family has owned since 1862. Lost of history there and we have played it up, with lots of old pictures but totally redone.
My issue is the 25% down payment for the house. I cant use the house I own to get the money out of it. any suggestions.
also where can I find the 90 day challenge.
Thanks , I am looking so forward to joining up with this amazing group of investors
Quote from @Cherry Norris:You can find the webinar replay here.
also where can I find the 90 day challenge.
Thank you so much Nathan! I see you are new to Real Estate. I have been a realtor here in Florida for 5 years. It has been a great experience.Now my son has joined me as well. We are ready to start investing. HOpe you have great success with it .
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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- Austin, TX
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
You don't need 25% to purchase a home, there is a world of creative finance where you dictate all terms. Down payment, interest rate, amortization, balloon, price. I just put down 3% on a property.
PLEASE TELL ME MORE!I'm Interested!!!Can you direct me in the right direction?
I have found a property that I am very interested in.Its basicly 2 houses connected together by a laundry room.2 bedrooms 1 bath on each side. Asking $259K in a very popular area excellent location . I want to Airbnb it. My son could purchase it as a first time home buyer and house hack the other side, but would rather look at other options as is really does want to live ther full time.
I really appreciate you reaching out to me , and giving us any insights
Thank you,
Quote from @Cherry Norris:
PLEASE TELL ME MORE!I'm Interested!!!Can you direct me in the right direction?
I have found a property that I am very interested in.Its basicly 2 houses connected together by a laundry room.2 bedrooms 1 bath on each side. Asking $259K in a very popular area excellent location . I want to Airbnb it. My son could purchase it as a first time home buyer and house hack the other side, but would rather look at other options as is really does want to live ther full time.
I really appreciate you reaching out to me , and giving us any insights
Thank you,
You can creatively finance it by not going through traditional lenders. Seller financing as an example (you'd need to come up to an agreement where the seller carries the note & loan amount).
Separately, there's other loan options that you could find with local lenders or credit unions. In WA, I know of a lender that can do a 10% down investment property loan. Not sure if there's anything like that in FL, but good to just start asking your local network & talk to lenders.
Thank you for your information
Hi Cherry, I'd be happy to walk you through a few options, as I'm in Central Florida as well. You can qualify for 10% down, but you'd have to be buying the property at a discount. As long as 90% of the purchase price is under 80% of the As-Is value, 10% is available to those with decent credit.
