How Much Money Is Needed?
Hello Everyone.
First let me say thanks to all of the people who have contributed their time, expertise and information to us who are just starting out. You are a god send to us.
I am interested in purchasing a nice income property.( i just started looking but haven't found one yet.)
I have read alot of people say that they don't have enough cash to start out.
so I am wondering how much cash is enough up front money to get started investing.
I mean how much is a typical down payment on a property around say $70,000 to $150,000 ? and closing costs?
Quote:
On 2004-01-27 23:47, VvVJoe wrote:
I mean how much is a typical down payment on a property around say $70,000 to $150,000 ? and closing costs?
VWJoe,
I guess there is no typical amount of money needed to start investing in this field. That is why it's called Creative Investing. It is incumbent upon the individual to figure out the most creative way to get the house or property with as little cash out of pocket as possible, and with out using your own cash.
Good luck