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All Forum Posts by: Alex Smith

Alex Smith has started 8 posts and replied 14 times.

Post: How to get the 20% down payment with no money

Alex SmithPosted
  • Rental Property Investor
  • Friendswood, TX
  • Posts 14
  • Votes 11

@Jaquetta Turner I do and it’s actually being refinanced right now with these low interest rates. I have looked into it but I can only pull 30k out. I have thought about it and that just puts my months overhead higher by doing that.

I think the best idea is to just work really hard and save up a bit more of my own money.

Thank you for the help.

Post: How to get the 20% down payment with no money

Alex SmithPosted
  • Rental Property Investor
  • Friendswood, TX
  • Posts 14
  • Votes 11

@Ian Walsh I think this is the best advice. I just need save for a down payment. Thank you!

Post: How to get the 20% down payment with no money

Alex SmithPosted
  • Rental Property Investor
  • Friendswood, TX
  • Posts 14
  • Votes 11

@Joe S. I have not considered that. Thanks for the advice I will look into that!

Post: How to get the 20% down payment with no money

Alex SmithPosted
  • Rental Property Investor
  • Friendswood, TX
  • Posts 14
  • Votes 11

Ive found the deals but I do not have the 20% down payment. 

I have found a partner to give me the 20% down payment in return for half of the cash flow. 

Issue is the lender states my partner must be on the mortgage if he is brining the 20% down. My partner does not want to be on the mortgage. There must be a way around this? There is also the dilemma of 40K being deposited into my bank account and being a red flag. 

Would love some input on the above.