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Updated over 4 years ago on . Most recent reply

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Down payment-Creative Ways to get money fast ?

Posted

Hello,

I was pre approved for a $500,000 to $525,000 loan here in Los Angeles, CA .

It is a FHA Loan and I will need 3.5% - $18,375.

I have $2,000 saved. I am going to work hard but any creative ways to save money or get money for Down payment ?

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13,385
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
19,417
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
Replied

Solution:  Start with a different property...flip it, reinvest and flip again until you have your cash from the profits ONLY.  Keep your seed money intact at all times.  Spend your profits and use your seed money.

Do it this way and you should never ask the above question again.

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