{ "media_type": "text", "post_content": "I've got 60k saved to buy an investment property, need 125k b4 I have enough funds for down pymt. want to invest without risking my base. any good vehicles out there?", "post_id": "5870313e800e51001011452e", "reply_count": 15, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

I've got 60k saved to buy an investment property, need 125k b4 I have enough funds for down pymt. want to invest without risking my base. any good vehicles out there?

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No. if you don't want to risk the principal then using a savings account

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Find a different broker. Call around or go visit a bunch of local banks and credit unions. If you want to have multiple investment properties, find a bank or CU that does portfolio lending. You can put less than 20% down on an investment, you'll just need to pay PMI. You probably won't find anything under 15%

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Just curious how do you folks manage rental properties or plan renovations with weekly travel?

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Very similar. I'm sure they have the same risk settings.

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I hear the Boston area is an extremely competitive market that favors the sellers. That increase in down payment is probably to try to beat out other noon- cash buyers.

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Associate 1... False. Buyers don't give a rats ass about how much you're putting down as a down payment. It is binary, either you're financing, or you're an all cash buyer.

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Where are you buying?

in the city of boston

Use Wealthfront and set your risk tolerance to very low

A1, is that different from betterment?

What are you looking to buy as an investment property? $60 may be a bit light, but $75-80 should get you something

was told by broker i needed 25% down pymt for investment property. can't find anything decent in the city. looking for a triple decker home

Something could be different in your area, but you shouldn't need anything more than 20%. Odd. I just did an investment deal with 20% down. Way to go all in though.

Ey2 - sorry for the consultant answer, but I manage expectations. I tell my tenants that I travel extensively, and thus won't be at anyone's beck and call. They should call, but the answer is almost always the same. Call a service, well rated from yelp and price out a fix. I'll pay, but won't be a part of the process. If it is a big job, our life threatening, I'll get involved.

@D1 just sharing what friends have said in buying property in that area. Maybe a bigger down payment means they are able to pay more. I don't know but many have complained that even when they bid on a property a good distance from Boston proper that there will still be more than 8 other bids. Many will go over the asking price by as much a $50K.

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