Down payment amount

[Gustavo Tellez]

Hello, I was wondering what's a good amount of money to have on hand to use as a down payment to start my investing journey. I can't house hack and am looking towards SFR, either a brrrr or turnkey. Depending on how much money is recommended. Please let me know! Thanks !

[Riley Schaefer]

@Gustavo Tellez

What type of financing are you looking to use?  If conventional, then you likely need 20% to 25% down.  So the amount will vary dramatically based on the home price.  Prices also vary depending on where you are looking to buy.

BRRR and TK are COMPLETELY different strategies with a significantly different risk, time, money & stresses involved. I've brrr'd a few properties. Lost money on many of them ultimately, made a little bit on a few, spent a TON of time on them all...way more than initially anticipated. I also buy a lot of turnkey deals mainly through Rent To Retirement with Zach Lemaster. Generally those have been good and mainly hands off. I tend to like new construction more than anything.

Whatever strategy you choose, remember to be honest with home much time & risk tolerance you have & to always run your due diligence on any property before you buy it!