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Updated over 5 years ago on . Most recent reply

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Andrew Smith
71
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38
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Where do you get the cash for your down payments?

Andrew Smith
Posted

I've bought a few houses this year and am out of my personal cash for down payments.  How do you keep the momentum going?

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John Warren
  • Real Estate Broker
  • 3412 S. Harlem Avenue Riverside, IL 60546
5,059
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6,017
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John Warren
  • Real Estate Broker
  • 3412 S. Harlem Avenue Riverside, IL 60546
Replied

@Andrew Smith every deal I buy helps me buy the next deal. My first property was a four unit in Lyons, that I was able to BRRR right away. The down payment from that, plus the sale of my home (live in flip) in Riverside, helped me buy a nine unit apartment building in Berwyn. From there I bought another fixer upper and then bought a 19 unit in Berwyn. Then a six flat in Cicero with a HELOC. You have to focus on buying value add so that you are always buying equity.

  • John Warren
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