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Updated almost 11 years ago on . Most recent reply

User Stats

80
Posts
10
Votes
Chris Lynch
  • Commercial Real Estate Agent
  • East Providence, RI
10
Votes |
80
Posts

How much should be saved before buying first rental

Chris Lynch
  • Commercial Real Estate Agent
  • East Providence, RI
Posted

How much money should be saved before buying your first rental?

After some thought I think my first unit is going to be a SFH. They seem much easier to manage. After I get in and learn the basics I will buy a multi as my next.

With that said SFH's in my area range from 129-170k. How much will I need to have in cash down to get into my first investment?

I know 20% is general. But is there any way around this aside from FHA Multi?

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