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Updated over 3 years ago on .

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4
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4
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Daniel J West
4
Votes |
4
Posts

Wife-approved financing for a down payment?

Daniel J West
Posted

I am just starting out with rental property investing and trying to figure out how to buy that first property. Currently, I am focusing on small multifamily and trying to figure out how to finance it. I own the house I am living in now and considering taking out a HELOC or refinancing it to come up with the down payment. However, my wife is hesitant to involve our current residence, because she does not want to put the property at risk if things do not work out. Or at least she is hesitant to take the risk since my only experience with property investing is from books and spreadsheets. Aside from asking her to take a leap of faith with me, are there any other considerations I can give her to calm her fears? Should I look for an alternative way to finance a down payment? It is difficult to reassure someone without a proof of concept.