How Can I Finance My First Deal?

[Devyn Grillo]

Hello, I’m looking to purchase my first duplex. I can’t live in it at this point so an FHA wouldn’t work. Are there any other options for getting a low down payment? Or some way to finance it? I’m in college so don’t have enough for 20% down at the moment but do have a decent amount saved. The duplex I’m looking at is listed $165,000 and the numbers work out beautifully. Thank you for your help!

[Christopher Phillips]

@Devyn Grillo

Since you're in college, I'm assuming that you don't have any substantial regular monthly income. So, an bank loan on your own will be out.

You can get a partner with the income like a family member, friend, or private investor. The other option if you want to go solo, is to try and find an owner that would be willing to do seller financing or Subject To.