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Updated almost 6 years ago,
Rental investment properties and down payments
I have watched a number of webinars recommending rental properties investment but I feel like I'm missing something..
Say I want to invest in a duplex for $200,000. I use $40,000 (20%) from my savings as a down payment. Ideally, the rooms are rented and I earn $200-$400/month in profit on this duplex. The goal is to then invest in a fourplex (I'll estimate that the fourplex costs $400,000.) Assuming that I don't have $80,000 for a down payment, do I purchase this next property with a down payment that's less than 20% Is the best option to find an investor who is willing to work with me? If that's the case, what do these arrangements/agreements typically look like?
This is all new to me and I understand this is likely an amateur question. If someone could please at least point me in the right direction towards a helpful resource even, I would appreciate it!
Thank you!