Updated over 10 years ago on . Most recent reply
getting my feet wet
So I've wanted rental property for the past 12 years. I am setting myself up financially to be able to afford 2 mortgages without tenants in the near future. (My own house mortgage and a potential rental) I like the idea of buying a fixer upper and renting it out. My question is; to buy a second home I'll need 20% to put down, unless It's my primary residence. Would it be a dumb idea to move to a new house and rent out my current house so I can tap some retirement funds that can allow me to put down 20%? Or should I put this off until I can save up enough to put 20% down? Thanks