Funding down payment on investment property

[Ryan Cooley]

Hello BP! 

I found a great investment property (4-plex). I want to avoid having to clear out our savings to put down the 20% down payment. 

What are creative ways to fund the down payment? 

[Richard Helppie-Schmieder]

Hey @Ryan Cooley, you could start calling local banks to understand their terms. For my first portfolio lending deal, I called 45 banks, 5 got back to me, 2 offered to fund and I negotiated with one bank for 10% down because the equity was there. Hope this helps! 

[Ryan Cooley]

@Richard Helppie-Schmieder That is AWESOME. I love the hustle. I will do that. Did you have greater luck with credit unions or banks? 

[Richard Helppie-Schmieder]

@Ryan Cooley technically they were all banks, but very localized ones.

[Eric S Charles]

Thank you for this post Ryan and thank you Richard for your response.