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Updated almost 5 years ago on . Most recent reply
Paying for holding costs?
When you buy a property to rent out and you paid the down payment with a loan because you have little to no capital except for 2 credit cards, what are some strategies to pay the holding costs?
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Whitney Hutten
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
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Whitney Hutten
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Pro Member
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
@Chase Whitney The bank will want to see at least 6 months if not a year of reserves right now for all properties plus the down payment. That is for HML and straight purchase. Do you have that? If not, I would not leverage this portion, rather find a partner to get started with. This isn't the environment to not have capital reserves.