Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 11 years ago,

User Stats

242
Posts
84
Votes
Billy Rogers
  • Investor
  • nowhere, TX
84
Votes |
242
Posts

Out of cash for rental property acquisition

Billy Rogers
  • Investor
  • nowhere, TX
Posted

I currently have in addition to my primary residence which has little equity a rental worth $115k and owe 60K and another rental worth $25k with no mortgage

I have cash to cover repairs and my own personal emergency fund but do not have any extra for a down payment on another property. I'm interested in getting a multifamily property preferably 4 unit or more. Most of the ones I've found are in the 225-265k range. Assuming ( and I don't know if this is correct) that I need 20% down It would probably take me 4 or 5 years to save up 20 %(50k).

So for all you guys that have multiple rental properties, what do you suggest I do? Just save and wait? try to get a loan against my other properties? something else?

Thanks,
Billy

Loading replies...