What options does one have if they can’t come up with a 10-20% down payment on an investment property? I’m young, a first time investor/buyer and a college graduate. Are there any other options for me or do I basically have to find a person or people to help fund my project? Any ideas or suggestions?
Depends on the investment property. residential or commercial. Where there’s a will there’s a way, but their first must be an application.
What options does one have if they can't come up with a 10-20% down payment on an investment property? I'm young, a first time investor/buyer and a college graduate. Are there any other options for me or do I basically have to find a person or people to help fund my project? Any ideas or suggestions?
When it comes to the financing of N/O/O properties, there are a multitude of financing options available.
Conforming loans are all contingent, of course, upon your credit and income situation.
Hard money lender’s and private investor’s are primarily interested in the property.
There are some scenario’s where you can have the seller do financing.
You should always build up your “support team” prior to venturing out into the investing biz. Find some Realtors/Brokers/Investors that can help you when you find the investment that you are looking for.
Only when I stop! HA!
as an example, I’m currently looking at a property with owner financing. This FSBO property is going for $72,900 and the owner wants $3500 down and he will finance the remainder. He doesn’t care where I come up with the $3500… credit card, private loan, my own money, 401K, savings bonds, sell stuff on Ebay, etc…