First Property (Duplex!) - Private Money or Dig into Savings?

[Brian Puebla]

Hey guys, I’ve been doing tons of research the last few months and eager to get into this real estate hustle/life style.

Now I’ve finally found a property I believe to be THE ONE, my potential first investment.

Duplex with little to no repairs needed, price = 110k and each unit is being rented for 740/mo. Now here is my question, the bank I’m seeking a loan from requires a 25% down payment and the issue is... that’s almost all of my savings! If I put a 25% down payment, after closing costs and all, I’ll have about 3,000 left to my name. The perks of this would be low interest rate and higher cash flow but at the cost of wiping out my savings. Do you all think I should pursue the property in this manner or through a private money lender at the cost of a much much higher interest rate and less cash flow.

Extra backstory: I am currently a young buck living at home with no rent and pretty much no bills to pay besides the living essentials, so being left with 3k to my name isn’t much of a concern. My only concern is that such a situation may severely limit my investing future in the short term.

Any help/advice/insight is greatly appreciated, thank you!