Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
You must be logged in and allowed to do that
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago on . Most recent reply

User Stats

6
Posts
1
Votes
Ryan Russell
  • Colorado
1
Votes |
6
Posts

Creative ways to finance

Ryan Russell
  • Colorado
Posted

Hello you beautiful, driven people. 

My wife and I are getting ready to take the plunge on our first investment property. Yay! We'll be implementing the house hacking strategy, but we have a small issue. We live in the Denver, CO area, which is hot. I was approved for a loan for 350k and have around 18k for a downpayment, however, as I have been finding in the past year while I enhance my "deal analyzing" muscles, it's hard to find anything more than a 2 bedroom for under 400k - and I've really gotten in there - if by chance you do, it'll need thousands and thousands in repairs and we do not have the cash flow for that on top of the mortgage. 

Other than co-signing with someone with money, waiting another year (because let's be honest, then it just won't happen) what are some creative ways I could come at this purchase to finance it? OPM? Hard money? What do you all think? 

My real estate agent (who is awesome) has warned me against foreclosures, as I was looking into some, because of the condition you usually get them in and the fear that it will tank us before we even get started. 

Preciate your thoughts, comments, experience, and encouragements! 

Loading replies...