How to Get Money for a Down Payment | Morris Invest

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- Get a ballpark figure. If you know approximately how much you’re planning to invest, you’ll want to calculate how much you’ll need to save up for a down payment.
- Know your loan options and requirements. Even if you’re not ready to invest, you may still want to talk with lenders so you know your options. Depending on the loan type, you may need less or more money.
- Make a strategy. If you want to reach this goal, you’ll need to create a budget and organize a plan. Know how much you can afford to set aside each month and stick to it.
- Use a high yield savings account and/or real estate notes to accelerate your savings. https://morrisinvest.com/connect.
- Add more income streams. One of the best things you can do to accelerate your savings is to bring in additional income. Even just a couple hundred dollars per month can help you reach your goal much faster.
- Think about taking out a loan from your retirement plan.
- Consider self-direction. Depending on your goals, you may be able to use your retirement funds to start your portfolio.
- Use your home equity. Many homeowners are sitting on tens of thousands of home equity that can be leveraged.
- Turn your assets or liabilities into performing assets.
- Use our referral program. If you have a friend, colleague, or family member who is interested in full-service real estate, send them our way! Once they close on a property, we’ll send you a referral bonus of $1000. You can learn more and read the terms at morrisinvest.com/refer.
- Pay down your consumer debt. High interest credit cards are destroying the finances of so many Americans. If you can pay down that debt, you’ll have more room in your budget to save.
- Use wholesaling or flipping to make a quick buck. If you have the skills and the time, utilizing one of these real estate strategies can be a great way to quickly make a profit. In general, I don’t usually recommend these strategies long-term, but they can be a great means for launching your investing career.

Pros & Cons of Buying Real Estate in a SDIRA: https://youtu.be/-voWm2iE8AY
Ultimate Guide to Leveraging Your Home Equity: https://youtu.be/Jk9zdoKPjzg
Creative Financing Secrets the Banks Won't Tell You: https://youtu.be/dsqN08iDmoA
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