Hacking your down payment.....

[Bruce Lynn]

Lots of new investors and some 1st time home buyers seem to have a tough time envisioning they can ever save enough for a down payment on an investment property.

We see plenty of requests here for JV or FHA financing or some other way to bridge that down payment gap to get started. What are some of the best creative ways you've seen people come up with $10, $20, $30, $40,000 down payments?

HELOCs if they own a primary......cash out refinance if they own a primary.

Borrow from family.

Side hustle for a year....uber/lyft, deliver pizza, Amazon warehouse, PM, cleanout services, garage sale item flips(Gary V style)

Medical Research....some pay $800 or more for simple vaccine research..some pay $5000 for a week of in patient testing.

Trade down cars....flip cars.....saw a guy the other day on youtube flipping riding lawn mowers.

Selling all their excess on FB Marketplace and ebay.

[Ken Nieves]

Vending machines/locations can be very lucrative too.  Large learning curve for newcomers, but it's an inflation proof side hustle.  Most products have a profit margin from 70%-300%.  But selling the location is where you can make money fastest.  

Example: I secured a high traffic location, purchased two used machines ($3,200), operated the machines for 7 months ($250 avg. monthly net) and then sold the location, along with both machines for $8,850.00.  After factoring in a few repairs, it averaged out to be a bit above $920/monthly net.