Determining how much cash you need to close on a rental property is largely a function of the estimated purchase price. Suppose you’re looking to buy some modest residential housing for $100,000. For a 25 percent down payment you need $25,000, and adding in another 5 percent for closing costs brings you to $30,000. If you have your heart set on buying a property that costs three times as much ($300,000 sticker price), you need to triple these amounts to a total of about $90,000 for the best financing options.
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