This week’s question comes from Mack through Ashley's Slack channel in the Real Estate Rookie Bootcamp). Mack is asking: How can I buy an investment property without putting 20% down?
Mack has the question that many real estate investors do: how to buy with low or no money down)? Thankfully, the world of real estate has a plethora of financing options from low down payment conventional and FHA loans) to zero percent down loans) from certain providers. Granted, you do need to check a few boxes before you can get these.
Here are some suggestions:
Understand the main** differences between FHA loans and conventional loans**
Use house hacking as a way to qualify for owner-occupied financing
**Calculate out your **PMI) beforehand so you know the true cost of a sub-20% percent down loan
**Use a **HELOC) on your current properties as the down payment for new ones
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 Show
Real Estate Rookie Rookie Facebook Group)
Real Estate Rookie Youtube Channel)
Real Estate Rookie Bootcamp)
BiggerPockets Forums)
NACA)
Check the full show notes here: https://www.biggerpockets.com/rookie142
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