REI can be done with little to no money down its creative financing there is no right way to do it, put on your thinking cap and network you have plenty of resources to use (a good deal always finds funding)

@Zachary Robertson you'll need at least the closing costs. Even if you get the property 100% owner financed, you'll still have to pay for the deed transfer, title search, recording fees, transfer tax, etc. This amount of money will vary based on the size of the transaction ... but you can assume it will cost $2k-$3k at a minimum.

Followed Discussions Followed Categories Followed People Followed Locations

Starting Out

Market News & Data

Market Trends & Data

Buying & Selling Real Estate

Out of State Investing

Real Estate News & Current Events

Real Estate Technology

Investor Mindset

General Info

General Real Estate Investing

BiggerPockets Exclusive PRO Area

PRO

BPCON

New Member Introductions

Questions About BiggerPockets & Official Site Announcements

Off Topic

Starting Out

Real Estate Success Stories

Real Estate Horror Stories

Real Estate Strategies

House Hacking

Commercial Real Estate Investing

BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Mobile Home Park Investing

Innovative Strategies

Multi-Family and Apartment Investing

Land & New Construction

Wholesaling

Rehabbing & House Flipping

Short-Term & Vacation Rental Discussions presented by

Tax Liens & Mortgage Notes

Medium-Term Rentals

Buying & Selling Small Businesses

Outdoor Hospitality

Landlording & Rental Properties

General Landlording & Rental Properties

Managing Your Property

Marketing Your Property

Tenant Screening

First-Time Home Buyer

Real Estate Professionals

Mortgage Brokers & Lenders

Contractors

Real Estate Agent

Financial, Tax, & Legal

Personal Finance

Creative Real Estate Financing

Private Lending & Conventional Mortgage Advice

Insurance

Tax, SDIRAs & Cost Segregation presented by

Foreclosures

1031 Exchanges presented by

Goals, Business Plans & Entities

Legal & Legislation

Real Estate Classifieds

Classifieds

Real Estate Events & Meetups

Reviews & Feedback

Ask About A Real Estate Company

Real Estate Deal Analysis & Advice

Guru, Book, & Course Reviews

Syndications & Passive Real Estate Investing

Updated almost 9 years ago on 02/10/2016. Most recent reply

15
Posts: 8
Votes

Zachary RobertsonPoster

Columbus, OH

Starting Out

Money?

Zachary RobertsonPoster

Columbus, OH

Posted February 10, 2016 06:30

So all these beginner posts and stuff say that you can get started with no money, which sounds too good to be true. So I guess my question would be, honestly how much cash (of my own) would I need to buy my first small property?

2 Votes

2 Replies

Jump to Last Reply

Sort By:

Oldest

Loading replies...

Your Profile Views

Curious to see who's interested in your profile? Unlock your views with Pro

Connect with others

7 day free trial. Cancel anytime.

PRO

Upgrade to Pro

Market Finder - key investor metrics for all US markets

Deal Finder - investor-focused filters and notifications for new properties

Calculators - Unlimited access to 9+ property analysis calculators

Find an Agent

Find & Match With an Investment Friendly Real Estate Agent

Enter your market to get started

Rent Estimator

Address or ZIP

loading related articles...