Updated almost 9 years ago on . Most recent reply
Recent College Grad w/ 10k saved
I recently graduated college and got a job as a teacher. I still live with parents and I'm paying student loans and paying off my car. In my first year, I was able to save $10k. Trying to buy a rental property. Any ways to generate money for a down payment? Don't have much credit :(
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@Anthony Reyes Your credit should be over 675. I would suggest you buy a duplex and live in 1/2. You can buy it with FHA financing and have the seller pay as much as 6% of the sales price towards your closing costs. you would be able to buy a 170,000 duplex with $10,000.
check with your local agent and mortgage rep.