20% down on investment properties??

[Jose Quintana]

Hello everybody, I'm a first time investor looking to get into rental properties. I live in Northern California at the moment. Recently I was contacted by a lending company from Los Angeles. I believe the company name was "Koncord". In talking to the lady I explained that I wanted to look into financing for an investment property. She proceeded to tell me that In California one needs 20% on an investment, no other way around it. My question to everyone, is this true? Are there anyways around this if it is true? I appreciate any responses. 

Thank you

Jose Quintana

[Michael Seeker]

There are ways around financing requirements, however it will depend on what sort of loan you're looking for.  In KY, I've put down as little as 10% on a commercial loan or 5% on a hard money loan.  If you plan to buy with a 30 year fixed rate loan, then it's very unlikely you'll be able to do so without putting down 20-25%.