It can take months or years to save up $10,000 or $50,000 to buy your next rental property.

But even then, with housing prices so high, it can still seem hard to make it work with that

amount of cash. But it doesn't have to be. I'm Chad Carson. People online call me Coach Carson,

and in the 21 years I've been investing in real estate, I bought a lot of rental properties

with $50,000 or less

out of my pocket.

And in the rest of this video, I'm going to show you four examples of how you can do it to,

even in 2024.

And we're getting started right now.

So to start off talking about how much cash you actually need to buy a rental property.

And if you're a new or a growing real estate investor, this can be a pretty intimidating topic

because we're talking about properties that are $400,000, $500,000 or more that you're buying.

And so there's a lot of costs that start adding up. You have your down payment, which could be anywhere from $5 to $25,000 or more that you're buying. And so there's a lot of costs that start adding up. You have your down payment, which could be anywhere from 5 to 25% of the purchase price. You've got closing costs. You have to pay the appraisal, the attorney's fees, all of those inspections when you buy the property. You've got holding costs. So if you have a property that's vacant and it's going to take a few months to rent it out, you've got to pay for those costs as well and maybe some repair costs to get the property ready to rent. And then finally, I always recommend that you put up some cash reserves. So a minimum for me is about $5,000 per property just so you could cover some kind of maintenance expense or heating and air, part of a heating and air expense if that came up. But you could also put a lot more than that. And so when you total all of that up, that's probably the reason you're thinking, I don't have enough cash to buy my next rental property. It's going to take me more time to save it up. So it's true that someone has to come up with that amount of cash. They're rarely true no money down deals in real estate. But here's the key

unlock of this entire video. What experienced investors, those who are able to continue buying

more rental properties know, is that you can use something called OPM. That stands for other

people's money. So as I'll show you in these examples, you can sometimes work with a private

partner, a private

lender, even the seller to help you come up with a cash you need. But there's an important caveat.

You probably know this intuitively, but there's no free lunch. There's no shortcuts with anything

in real estate or life. And so for you to be able to get the money for your deal, you have to

bring something of value as well, which means

when you get a deal, it needs to be a good deal. And I talk a lot on this channel about what that

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