304: Rookie Reply: Don't Have 20% Down? Here's How to Fund Your Next Investment

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 15 July 2023

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Want to buy your first investment property? You DON’T need twenty percent down sitting in your bank account. We know; everyone has told you that you need a massive down payment before you buy a property. But did you know that expert investors like Ashley and Tony rarely come to the closing table with their own money? If you know where to find the right funding, you too could buy multiple income properties a year WITHOUT having to scrimp and save up tens, if not hundreds of thousands of dollars! We’re back with another funding and finance-first Rookie Reply episode. This time, Ashley and Tony will go over how to fund your first BRRRR or fix and flip, EVEN if you don’t have twenty percent down. On a closely related note, we’ll touch on what to show a private money lender when you’re looking for funding and the “private money packet” new investors should start creating TODAY. Then, Ashley and Tony will hit on how to make more offers so you can build wealth faster. Lastly, you’ll hear the differences between small and large multifamily and why experienced investors LOVE larger deals. If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover Reserves, down payments, and how to fund your first BRRRR or fix and flip if you’re low on cash Unlocking private money lending and exactly what a lender wants to see before they fund your deals The easiest way to start making more offers and the simple technique that’ll make analyzing deals a breeze What to know BEFORE you buy a large multifamily property (and laws to pay attention to) Cap rates, commercial real estate, and why bigger deals are often easier to increase equity And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Listen to Episode 303 with Spencer Carpenter Check Out Our Mentee Episodes with Lawrence Briggs: Part 1 Part 2 Part 3 Part 4 Lattes and Leases Serena Norris Check the full show notes here: https://www.biggerpockets.com/blog/rookie-304 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is Real Estate Rookie, Episode 3104, so funding the 20 to 30% of the purchase price,
0:08.0	depending where you go to actually get this loan on the property.
0:12.1	So if you're going to a bank and you're going to put a traditional mortgage,
0:15.5	they're going to want to see that the cash came from you, and then you're not borrowing it.
0:20.9	But if you go to a hard money lender, you can potentially borrow that 20 to 30%
0:28.1	that you're putting down from a private money lender.
0:31.4	My name is Ashley Care, and I am here with my co-host, Tony Robinson.
0:35.3	And welcome to the Real Estate Rookie Podcast, where every week,
0:38.4	twice a week, we're bringing you the inspiration, motivation,
0:41.1	and stories you need to hear to kickstart your investing journey.
0:44.1	And today, we are back with a Rookie reply.
0:47.6	And we've got a ton of really good questions to get into today, huh?
0:51.3	Yes, yes. Before we get into the questions,
0:55.7	though, Tony and I actually got to hang out together, and we love it when we do.
1:00.0	And I feel like it's becoming more common than not.
1:03.5	We get to get to see each other.
1:05.6	So two times in the span of like two and a half weeks, I think,
1:10.0	we're hung out in Denver, and then like a week later, we're back together in Arizona.
1:14.6	Yeah, we went to the Limitless Expo, super cool conference,
1:18.6	ties in Real Estate, finances, and then other types of investing,
1:23.5	such as gas and oil, gold, all different things.
1:27.6	But it was really cool to network with different people.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.