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Updated almost 5 years ago, 02/09/2020

User Stats

19
Posts
7
Votes
Paul Charles Bayliss
Pro Member
  • New to Real Estate
  • McAllen, TX
7
Votes |
19
Posts

Funding my First Rental Property

Paul Charles Bayliss
Pro Member
  • New to Real Estate
  • McAllen, TX
Posted

Hey BP!

I’m looking at buying my first rental property. Currently I am looking at a Triplex in TN that will come to market at approximately $199K.

I am leaning towards going with a conventional mortgage however I don’t have the normally required 20% down payment. I’ve thought about utilizing a hard money loan or possibly a personal bank loan to reach the required 20%. I am also actively looking at finding some private money to reach the 20%.

Any other suggestions on routes I could take to do this? Any input would be appreciated!

-Paul

  • Paul Charles Bayliss
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