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Updated about 10 years ago on . Most recent reply

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43
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5
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Wogderess H.
  • Investor
  • Charlotte, NC
5
Votes |
43
Posts

Near 0 down payment for investment property

Wogderess H.
  • Investor
  • Charlotte, NC
Posted

Hello everyone, 

I just joined biggerpockets although I have been reading articles and forums for several months on the site. I have a question about buying my second investment property. I just got a Mortgage First fully underwritten approval from Quicken loans but I have very little for down payment. I have found a few properties I'd like make offers on averaging $100K purchase price. So, basically, my question is does anyone have ideas on how to get about 20K for down payment without using much of the little cash I have?

Thank you!

Most Popular Reply

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13,367
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
19,404
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13,367
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
Replied

Business Credit Cards.  You can get them with a limited period of time at 0% interest.  We get them for 6 -12 months that way.

Partners.  They put up the 20% and get 20% of the deal...and any returns.  This isn't a loan, they would be a partner, so it wouldn't have an impact on the loan.

Joe Villeneuve
REcapSystem
A2REIC

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