Starting out: Renting while buying?
Hey everybody,
I guess ill try and bring you all up to speed with my current position. I would like to start investing in real estate I like the buy and hold models I have been researching. I do not own any real estate yet, so I am renting. My rent is ridiculously cheap about $350 a month. All mortgage/ loans that have been suggested to me usually require me to have the house as my primary residence. If I were able to rent out the entire property I would be making much more then If I lived in it. My basic math on the properties would be rents on a duplex of $650-800 per unit, and about $1200-1400 on the single families I have looked at. My question is, Is it feasible to rent while purchasing properties? What loans should I ask about? Would it be a wise move to try and invest this way?
I forgot to mention that I have some money saved up for down payments.