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How to Buy a Rental Property with 5% Down or Less (5 Ways)
Description
You’ve probably heard that you need a 20% down payment to buy a rental property. But for the average rookie, that’s just not a viable way to build a real estate portfolio. Thankfully, you don’t need 20%, 15%, or even 10% in many cases. Today, we’re sharing five ways rookies can work around this by putting just 5% down or less!
Welcome back to the Real Estate Rookie podcast! Today we’re sharing five legitimate ways to take down your first or next rental with very little money of your own money. And no, these aren't gimmicks or loopholes. These are real rental property financing strategies that investors are using right now to buy real estate with significantly less money out of pocket.
A couple of these strategies give you a place to live while tenants pay your mortgage. Other creative financing methods allow you to bring as little as zero to the table. There’s even a financing option most rookies have never heard of that actually lets you inherit someone else's low mortgage rate!
Stay tuned as we walk through the pros, the cons, and exactly who each low-money-down strategy is for!
In This Episode We Cover
Five ways to fund your next real estate deal with 5% down (or less!)
Why the "20% down" rule keeps rookies stuck on the sidelines
How to “live for free” while your tenants pay your mortgage
Strategic ways to structure a real estate investing partnership
How to get sellers to say “yes” to financing your next deal
A little-known way to take over someone else's low mortgage rate
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-756.
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