Updated over 8 years ago on . Most recent reply
Loan Types for New Investors
I will be graduating physical therapy school in August. My family and I will have $20,000 to purchase either a small live in flip or live in rent home. Our goal is start investing in more real estate outside our primary residence as soon as possible. Ideally we would have started with a duplex or triplex, but we did not know about real estate investing until recently and now we have two young kids and do not want to deal with tenants right next to us. We will be using a FHA loan to buy our primary residence. Besides FHA and VA loans, are there other loans that do not require the typical 20% down so that we could hopefully purchase another rental property with the remainder of the $20,000? Also, which type of property should we purchase for our primary residence a live in flip or live in rent? Thank you for any help provided.