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Updated about 1 month ago on . Most recent reply

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11
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6
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TJ Dittmar
6
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11
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Looking to accelerate cash savings

TJ Dittmar
Posted

I am currently in the process of saving my 20% + 6 months buffer for a rental property. My target goal is $30,000 and I'm currently at $17,000. It should take me around 3-4 more months to save the additional funds. But since I'm in the learning/saving phase I'm thinking ahead on other ways to accelerate funds fast to make deals quicker. I have a W2 job and I'm already working overtime and picking up as many saturdays as I can within my current family obligations. What would be some ways to find financing that wouldn't require 20% down. 

At the end of the day I'm ok with taking the slower path of saving up the cash for the down payments and buffer but if there's a quicker way that I'm not aware of I'm open to all options. 

P.S. I can't house hack because of the family situation so I can't be approved for regular loans that require you to make the property your primary residence. 

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