How Much Money do I Need to Put Down on a Rental Property?
Maybe you've said yes to the idea of investing in real estate because you feel it's a great, safe way to invest your money a get passive income in return. But now you're not sure how much money you need to save up to actually get started with the purchase of a condo. Let's find out, along with a bit about why it makes sense to buy your first rental property with BrickOp.
5% Down Payment
With BrickOp, you simply need to put down 5% of the purchase price of your chosen investment property. Then, continue paying in $1000 increments for up to 30 months until you've reached our required 20% mortgage down payment and you can finance the rest. Once you've reached the 20% down payment and secured financing, you're ready to start collecting rental payments. This is great for increased financial flexibility and to allow you to get into the game while saving on management costs through our property management services.
There are many good reasons to do business with us, especially if you are a first-time rental property investor and could use a little help along the way. These reasons include the low financial barrier to getting started, as already discussed, but also not having to deal with finding renters and not having to worry as a beginner about the details. Let's take a closer look at each of these in turn.
There's no need to search for tenants as they are already there, so you'll lose no time stressing over finding quality residents and beginning to earn passive income right out of the gate, once you've made the minimum down payment. Additionally, our property management company handles resident screenings, move-ins, move-outs, evictions, maintenance and other needs without you needing to get involved.
The rental property investment process can feel pretty complicated for a first-timer and that's why we're here to help. The units we offer are already earning passive income because they've got tenants living in them. This takes stress away from your decision to invest since there's no risk of your newly-purchased property sitting empty while you try to find a reliable tenant. Our reliable partner property management company handles all the details of marketing, screening, lease-signing and move-in of qualified renters for the entire building where your investment property is located. We also handle maintenance requests so you benefit from owning a property without the work or pressure typically involved in managing it.
Additionally, an investor must concern him- or her- self with getting a reasonable price on a property, otherwise risking poor returns on investment. With BrickOp, you don't have to worry about paying too much. We sell to you at a discounted rate, giving you potentially more earnings than if you were investing on your own and this is in addition to lowering the barrier to entry into the rental property investment market. And with the added benefit of our experience and guiding hand, taking the guesswork and risk out of this investment opportunity, there's no reason not to say yes to such a worry-free real estate investment opportunity.
We serve as your advisor along the path of your journey throughout your real estate investment experience. We're always here to help and to answer any questions you may have in order to make your first-time real estate investment experience as stress-free and pleasant as possible, without the risk, legwork and time investment required when going it alone. With us, your efficient investment comes with detailed monthly reports so that you're aware of everything that is happening with your unit and the building at large, and all of this comes by a low-cost property management fee.
Want to find out more about rental property investment with BrickOp? Contact us!Tags: properties, investment