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MAPS Downpayments

Howard Greisman's Avatar

Howard Greisman

23 Dec, 2010 03:54 PM

This comment was split from the discussion: Better Squeeze page instructions

I started to advertise for buyers and had a few respond in
REIMatcher, but they specified 1 & 1.5K as a down payment, I did not
think it's possible to make something happen with downpayments like that? If true, should we not have a min. down payment, are we not
giving these people false hope?

Thank you.

  1. Support Staff 1 Posted by Brittney Rogers on 07 Jan, 2011 01:53 AM

    Brittney Rogers's Avatar

    Hi Howard,
    Thanks for the great question.
    Typically 1-3K down payments barely pay for the closing costs. You really want at least $5-7K down to make it interesting for the investor.
    You might consider contacting the other investor and seeing if there's any way his clients could increase their down payment. He may just be testing the market to see what is out there. Or he could have just made an error entering the info and the $1-2K could be his monthly payment and not his down payment.
    There is always the option that the seller (your client) could put money down. Always remember to ask for that. Then you could make a deal like that work.
    Shenoah

  2. Brittney Rogers closed this discussion on 07 Jan, 2011 01:53 AM.

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