853: Q&A: What Are My Options for Buying a Second Rental Property? - Episode 853
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 20 June 2022
⏱️ 11 minutes
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| 0:00.0 | Welcome to the investing in real estate show. I'm Clayton Morris, longtime real estate |
| 0:09.5 | investor and on this channel our goal is to make you a more informed and more intelligent real estate |
| 0:14.1 | investor and one of the ways that we can grow I believe is by listening to other people's questions. |
| 0:19.0 | Do you ever hear the old phrase that if you're talking you're not learning. |
| 0:22.5 | So that's what we do on this episode. |
| 0:23.9 | It's our Q&A episodes where people call in, |
| 0:25.9 | leave us a voicemail message, |
| 0:27.0 | and we attempt to answer those questions here on the show. |
| 0:29.5 | It's very, very easy to do. |
| 0:30.7 | You can go to our website, go to Morris Invest. That's M-O-R-R-I-S- Invest dot com and there's a |
| 0:37.2 | microphone icon on the right-hand side of the screen just click that and you can leave us a |
| 0:40.8 | 30-second voicemail question. |
| 0:43.0 | Okay, we've got three great questions from three great listeners today and we are going to dive into it right now. |
| 0:49.0 | Our first one is from Jennifer. |
| 0:51.0 | Hi, Clayton, I am looking to purchase my second rental property, just closed on my first, February 18th, and the situation |
| 1:00.8 | is I don't have a lot in savings, a little under 20 in terms of, you know, making a down payment and I recently started a Roth IRA, so I don't have a whole lot saved up in there. |
| 1:11.0 | So what would be your approach to go ahead and you know get that |
| 1:15.6 | second property started like what options do you see me having at this point? |
| 1:20.4 | Okay so you do have a Roth IRA set up. My question is, would you consider using part of that Roth IRA as the investment down payment on the property? There's all sorts of other funding options if you don't have the money right I always |
| 1:33.9 | point this out there's there's three things that you need to invest in real estate |
| 1:37.3 | you need money you need a property or a deal and you need people okay so what don't you have right now? |
| 1:44.4 | You don't have an abundance of cash or capital. |
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