Most people interested in becoming real estate investors find the minimum down payment needed is 25% of the sale price. There is, however, another seldom used alternative. Specifically, there is a conventional renovation loan available to real estate investors looking to purchase a single family home in need of even minor repair that requires only a 15% down payment. The program is called Homestyle. The program works like all renovation programs except for allowing a non-owner occupant. People who become aware of the program can develop real estate portfolios of single-family homes which they purchase at attractive prices because of the property condition, and then renovate the property to acceptable levels to the rental market. Moreover, because of the renovated state of the property can secure an above market rent.
It is a program worth investigating for anybody beginning the process of developing a real estate portfolio or for an experienced investor looking to limit the required investments.