Real Estate Agent · Columbus, OH · Member since 2020 · 44 posts · 36 votes
3y
Not 100% sure if I understand the question correctly but.... I ALWAYS recommend my clients put down as little as possible. Definitely not 20%! The more cash on hand the better chances you can get a better return in real estate. I just don't want them to tie their money up. Now this is the recommendation for clients that are starting out and want to grow a portfolio. Everyone has different risk profiles and goals when it comes to real estate. I think the correct answer is it depends on the situation!
Real Estate Agent · Member since 2022 · 2 posts · 0 votes
3y
From my experience it just depends on their personal situation. My husband and I have always put as little down as possible but that only works as long as you can afford the mortgage still. I would suggest that they have their lender give them a few different options and see what works best for them. Putting more down doesn't always come out to be better, especially when its spread out across 30 years, it becomes very minimal. Ideally, less is usually better in the long run to keep cash in your pocket, but again everyone's financial situation is different that is is more of the mindset to have. Run the numbers for all the options they have and you can guide them with your expertise but it should still be their final decision.