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Updated over 3 years ago on . Most recent reply

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Miguel Pinales
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First time buying investment property

Miguel Pinales
Posted

Hello All,

I hope everyone is having a great day. I have a property that I am willing to purchase as a rental property. I would like to ask my father to cosign on me to supply for the down payment but I am bit worried he will not do it. I was wondering if it is best if I take out a personal loan to pay for the down payment and other fees. My goal is to purchase my first rental property this year as I can really see this happening. I have a friend that is willing to live in the house that I purchase with his stepdaughter and pregnant wife. I ran the numbers and the rental will be making a profit. What should I do from here? Go to a bank and ask them for specific loan while supplying them the numbers of what the rental property will do? Do you guys know where I can get a great loan for a down payment for my rental property? I would greatly appreciate it and I am extremely grateful to finally be apart of a community that is achieving financial freedom and a purpose in life. https://www.realtor.com/reales... 

Thank you all,

Miguel Pinales

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