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180: Rookie Reply: How to Buy Your First Rental With No (or Low) Money Down

180: Rookie Reply: How to Buy Your First Rental With No (or Low) Money Down

FromReal Estate Rookie


180: Rookie Reply: How to Buy Your First Rental With No (or Low) Money Down

FromReal Estate Rookie

ratings:
Length:
11 minutes
Released:
May 7, 2022
Format:
Podcast episode

Description

This week’s question comes from Rodney through Tony’s Instagram direct messages. Rodney, like many investors, has been told that you need twenty percent down to buy a rental property. Rodney wants to know the best way to fund a property without breaking the bank. He's asking: Should I save for a down payment or is there a way to get a rental without the twenty percent down?It’s not uncommon for real estate investors to get into deals with far less than 20% down. But, for a beginner, this type of task can seem a bit intimidating, especially if you’re looking at your first investment property. Thankfully, the world of real estate presents investors like us with many ways to creatively fund deals!Here are some suggestions:Purchase a vacation rental using a second home loan that only requires ten percent downPitch seller financing to the seller and walk them through the tax benefits of financing the property to youPartner up with an investor who can provide the down payment on the dealSign a joint venture agreement with another investor who can split the down payment with youRemember: if you find a deal you can (probably) find the money for it!And more in the episode…If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).Links from the ShowReal Estate Rookie PodcastReal Estate Rookie Youtube ChannelBiggerPockets ForumsReal Estate Rookie Facebook Group Check the full show notes here: https://www.biggerpockets.com/blog/rookie-180See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
May 7, 2022
Format:
Podcast episode

Titles in the series (100)

Ready to build your real estate empire… but not sure where to begin?Think of us as your personal trainer.From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask.Looking to 10X your real estate investing business this year? This show isn’t for you.Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up. Every Wednesday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.