Options for down payments for rental properties?

I want to start to build a tri plex. Then hopefully build a second 1. I have contacted several banks in my area and they all say 25% down. How do I get started?

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Mar 02, 2018
Options for down payments for rental properties?
by: Tom

Thanks for the question!

In Canada you typically need both a down payment and income. Some lenders will allow you to borrow the down payment, but not many, especially more recently. The way to get started is to save up that down payment or to find a friend/family member who has it and do a Joint Venture together on it, that's what many people do who don't have the down payment saved up.

Wish I had an easier answer for you.

When interest rates spike up like crazy one day (if ever!) you may be able to buy properties with "no money" down because the market will crash/correct and seller's may be open to more creative selling/buying strategies like that.

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