Coming up with funds for a down payment and closing costs can be a challenge at times. Sometimes the money is tied up in other investments and perhaps the investment opportunity passes by. Minimum down payments for real estate investment property must be at least 20 percent of the sales cash for investingprice of the property and is in addition to the amount of funds needed for the associated closing costs for things such as inspections, appraisals and lender fees.

If you don’t have the funds readily available when a “can’t miss” opportunity presents itself, you may be able to borrow needed funds. But only under certain conditions.

First, borrowing against an unsecured asset won’t work. That means a cash advance from a credit card or similar instrument. You can get cash from a home equity line of credit but not from a credit card. What you can borrow against is any appraisable asset. And that means “any.”

One of the most common appraisable assets that lenders will accept is an automobile. An automobile is easily appraised using a variety of online appraisal tools or even a written appraisal from an automobile dealer. Banks and credit unions and advance funds to you and place a lien on the vehicle.

An appraisable asset can also be anything from a rare book collection to a baseball cards. Again, such items are appraisable by a third party. You can sell those items or find someone who can place a loan with those assets as collateral. Such an event is rare but indeed acceptable.

When borrowing against an asset, it’s important to document not only the appraised value but the terms of the loan and evidence of the fund transfer, most often verified with a copy of the wire and a deposit receipt into your account. It might seem a little bit out of the box, and it is, but when someone really needs cash quickly, this is an acceptable alternative.