If you need to come up with your down payment to do your first (or next) deal, then this is the class for you. James dives deep into everything related to down payments including how to get a down payment.
In this class you'll learn:
- It is not just down payment... but down payment and RESERVES
- Reduce and Produce: strategies to reduce the need for down payment as well as strategies to produce the down payment you need
- Will this work for you?
- How to minimize down payment when selecting properties
- How property price impacts how good or bad a deal is for you
- How to adjust for strong seller's markets
- All the nothing down financing options you can use to completely eliminate the need for down payments completely
- A comprehensive list of all the sources of down payment money (in priority/preferred order)
- How to correctly think about security deposits from tenants and maintenance reserves in relation to down payments
- Using property equity (and refinancing) as down payments
- Borrowing money for down payments
- The power of using the amazing tax benefit of depreciation for down payments
- Utilizing retirement accounts (your retirement accounts and other people's retirement accounts) for down payment
- Keeping it in the family for down payments and magical tips for asking (the right way)
- Selling stuff you don't need for down payments
- Working part-time on your future for down payments
- The every-other-year Nomad™
- Fixer uppers and using sweat equity for down payments
- Partnering for down payments
- Using rents (and house hacking) for down payments
- How to combine more than one strategy to power up your down payment strategy
- Alternate uses for too much down payment
- How much should you even put down anyway? A very detailed, math-based discussion that is sure to surprise and delight.
- The eye-opening chart showing effective interest rate (including PMI) by down payment amount
- How monthly mortgage payments vary for owner-occupants and investors by down payment percentage.
- How your return in dollars, return on investment varies depending on how much you put down
- A special bonus on down payments that will blow your mind
- Plus much much more...
Duration: 2 hours and 13 minutes
Recorded: September 16, 2020
Instructor: James Orr