Structuring Down Payment Investment Deals

[Steve Sorensen]

Hi,

I'm new to investing and looking to make my first purchase within the next two months. I work 100% on the road right now, jumping from site to site around the country every few months, and I'd like to invest in a property in the greater Minneapolis area (where I'm originally from). House hacking isn't a realistic option for me because I don't need/want an extra property in Minneapolis that I don't ever stay in. Because of my situation, I can't/don't want to get a standard owner-occupied mortgage with a 5% down payment, so I need to get an investment mortgage with 20% down. For a small, single family home, I'm looking roughly in the range of $125k-$250k, meaning a $25k-$50k down payment. I can't foot this down payment by myself right now, so I'll need an investor or investors. My questions:

- How are deals like this typically structured? Investor pays part of or the entire down payment and in return gets xx% back? Over what time period?

- How do I go about finding investors for this down payment? I've heard talk on BiggerPockets about going to local real estate groups and meetups, but with my job situation, going to these is not a realistic option.

- Other suggestions/strategies for financing this down payment? I've looked briefly into seller financing deals but have heard they can be tough to find.

Thanks in advance for the feedback!