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Updated over 7 years ago on . Most recent reply

User Stats

199
Posts
22
Votes
Tyson Hosey
  • Rental Property Investor
  • St. Louis, MO
22
Votes |
199
Posts

Frustration setting in!

Tyson Hosey
  • Rental Property Investor
  • St. Louis, MO
Posted

This is more of a complaint against my own lack of patience. 

I moved away from my investing area, turned my PR into a rental, bought a second one 6 months later and now I'm ready to keep chugging along. I qualify for financing all day long but the only thing holding me back from doing it is the 20% down payment. I need to just chill out and save up the 20% down payment. Period. It's just really difficult watching all these deals in my farm go by, unable to take action on them. Any advice on how to temper my excitement and "go-get-'em" attitude long enough to save for that?

Most Popular Reply

User Stats

14
Posts
11
Votes
Chris Herman
  • Investor
  • Avon Lake, OH
11
Votes |
14
Posts
Chris Herman
  • Investor
  • Avon Lake, OH
Replied

I had the same problem. It would take about 15 months to save 20%. So I used my home equity line to pay cash for a house. Then in 6 months I refinanced it and got all the cash back for my line and now it's got a mortgage. Now I can buy one every 6 months.

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