Buying my first income producing assest

[Nat Seangsumat]

I have been currently working full time at my current job for about a year now. I have been saving about 50% of my monthly paycheck through out thos year of employment. I would like some advice or your own personal experiences on buying my first rental home with low or no % down at all. 

Thanks

Ken

[Joshua D.]

@Nat Seangsumat   

Well, if I was you I would be looking at buying a duplex or greater with a conventional loan, to live in with 5% down. (PMI drops off at 20% LTV on a conventional vs FHA)

What kind of money are you saving? 50k  or 10k ??? might make a difference it what you can do.  

Why do you want to put so little down? 

Why not buy a ugly property with 25% down with a portfolio loan, rehab so it is fanciable via FHA or Conventional and then cash out Refinance the deal. (or Sell)

Un-financiable (Conventional or FHA) Properties sell at a deep discount and usually take small amounts of work to make them good again (at least the ones we buy)

just my thoughts