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Updated almost 2 years ago on . Most recent reply

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Brian Gula
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Options for down payment on first rental property

Brian Gula
Posted

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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Eliott Elias
  • Investor
  • Austin, TX
5,553
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Eliott Elias
  • Investor
  • Austin, TX
Replied

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. 

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