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Updated almost 2 years ago on . Most recent reply
Options for down payment on first rental property
I am a new member of the BiggerPockets community. I am really enjoying all the videos, articles and podcasts. I have been utilizing the rental property calculator to familiarize myself with what kind of deal would be needed to make a profit. Once I feel I have a good understanding, I'd like to to start to seriously inquire about purchasing properties.
One of my biggest hurdles of getting started and narrowing down a price range is the down payment. Since I am looking at properties for solely rental use I'd like to stick with the target of 25% down.
So my question is, are there any other options to come up with the funds for a down payment other than the traditional use your "savings account"?
Most Popular Reply
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Get out of that mindset, funds are not your biggest obstacle, it is the deal. Most people would not know what to do if I gave them a million dollars.