Financing with no $ down

[Arlet Rodriguez]

I found a property selling for 25k, an auction. It's 20 minutes from Johns Hopkins University/hospital, near the Baltimore inner harbor and many other things. The neighborhood crime rate is a B; the property is a total teardown. I want to turn it into a unique tiny home experience and/or rental; my cap rate would be roughly 31%, netting a little under 8k in the first year. In total, I will need about $100k. My regular business partner is super hesitant because we have never done any rentals, and as I said, it's a tear-down. Unfortunately, I was pretty irresponsible in my teens and have no savings but an income of 132k/yr. What financing options do I have? Should I even bother? 

[Chris Mcdonald]

If you are just starting out that is a pretty big undertaking. I think I would personally start off with turnkey rentals or easy rehabs. Do you live in an owner occuppied property? If no, starting off with a house hack is by far the easiest transition to being a landlord/investor.