Investing Questions And Opinions
I got a few questions and was wanting to know if anyone had some input or opinions they would share.
1: I have just bought my third house,and I was wanting to know if there was any creative ways in order to get around the big 10-20 percent down payment for buying investment properties.
I know that I could pull some equity out of my house but I don't have that much and would rather let that stay untouched. Also I know I could move into the house or one apartment etc and claim it as my primary but I just bought a nice house in a country setting which I plan to make my base of operations.
I want to know if there is any way around the big down payment.
My other question is, in march I should come across around ten thousand dollars.
What is the best thing to do with it.
One: Pay off some of my debt\
Two: Invest it into some more property
Three: Update current property to increase value that way I can pull out equity?
Thanks in advance.
Couple comments, I like using home equity toward investments that make sense. You get the tax deductible home equity interest plus the appreciation/cashflow/return on your actual invested money
(1) 20% down on invested property is crazy, there are plenty of lenders our there that with even decent crtedit you can get 90-95 financing. The exception is commercial property where you need to be more creative. FOr that, read Robert Allen's "Nothing down for the 2000's"
(2) My answer would be invest it in more property unless you have debt with very high interest rates (like 20% or more) You'll have plenty of money to do upgrades when yuo have more money from teh money you invest
[addsig]
try a hard money lender ,but make shure you fix and sell quick b4 the intrest rate eats too much of your profit