142: Rookie Reply: Do You Have to Put 20% Down on an Investment Property?

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 25 December 2021

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie, episode 142.
0:05.0	My name is Ashley Care, and I am here with my co-host, Tony Robinson.
0:13.0	And welcome to the Real Estate Rookie podcast, where we break down all of those burning questions that Ricky investors have.
0:20.6	Give you our best answers that we've got, and sometimes we bring on other guests to answer those questions for us.
0:25.0	But today you get me and Ashley going deep into the psyche, into the questions that our rookies have, and hopefully giving you guys some value.
0:31.0	Today, we are actually pulling our Rookie reply question from the bigger pockets, Rookie Real Estate bootcamp.
0:42.0	So we have one of the members that has asked a question in the bootcamp in the Slack channel.
0:47.0	So if you are unfamiliar, I host a Real Estate Rookie bootcamp, where we learn how to get comfortable and confident in getting your first deal in 90 days.
0:57.0	You guys know the drill before we get to the episode.
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	...

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