Updated about 2 months ago on . Most recent reply
New RE Investor - Strong Borrower, Low Cash
I finally made the jump! I am thankful to be a part of this community.
My wife and I recently started investing in real estate: we house hack in a duplex and we own a four-unit investment property, both of which are located in Southern California. We want grow our portfolio by acquiring an STR and some out of state properties, but we are not sure how to come up with the funds. We can take on another loan, but, we are short on cash for a down payment.
What do investors do to get financing in this type of situation? I look forward to and appreciate your thoughts. Thanks.
Zach
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#2 Tax, SDIRAs & Cost Segregation Contributor
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- Chicago, IL
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#2 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Chicago, IL
Welcome! Congrats on your early success on the purchases. Could you obtain a heloc or do a cash out refinance on your existing properties? That may help raise cash.
Otherwise, partnering up would be another option to get into some properties with other investors. This would allow you to use less of your cash. I would recommend having strong reserves in case of emergencies!
- Aaron Zimmerman
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