Investment Property down payment question...

[Bob Mazza]

I have started to shop around for a new investment property to add to the portfolio but wanted to be sure that I had a clear understanding of what my down payment would need to be. Below is an outline of what we have outstanding:

3 family - Loan in my wife's name only - house hacked

SFH - Loan in my name only - Owner occupied and plan to keep it that way

Now for our next loan on an investment property I am not sure if we will use both of our profiles to purchase but we are open to just figuring out what works best. I have seen down payments ranging from 15-25% to get conventional financing on an investment property, really looking to put as little down as possible. Can anyone offer any insight, this would be a pure investment property, 3 family. Any insight you can offer would be great. We are targeting properties in Fairfield Connecticut and have a few we are interested in if we can obtain financing, 10% down would be even better - trying to stay away from Hard money.

[Michael Kovac]

@Bob Mazza

Non-Owner occupied investment property with less than 20% down would be very hard to get done. The only way to do this in my experience is to get OPM and thereby bypass having to use your own money. But no matter what it will have to come from somewhere.

On another note I don't know if I would want to have my money in something greater than 80% LTV. It provides a cushion in case of a market turn.