Updated almost 10 years ago on . Most recent reply
First Deal
Hello everyone, I am fairly new to BP and currently looking to purchase my first buy and hold property. I work in Sales and plan to start out slow and do this part time until I gain the knowledge to fully commit to RE investing Full-Time.
My question is, will it be a better decision to put 20% down on the property I purchase in order to avoid PMI; or to put 5% down and use the extra cash to potentially line my self up for another acquisition in the near future?
I have already been pre-approved for a traditional 30yr fixed @ 4.2%.
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James Wise
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James Wise#4 All Forums Contributor
#4 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Money is cheap right now. I would go with 5% down and try to acquire another property.