Hey community, just a curious question here, how much did you guys have saved up before you started investing in rental properties?
I put down 6k on a 116k property. This was, however, during the super easy credit, sub-prime lending, pre-real estate market crash era. You will most likely need 20% of the purchase price of the rental property you are interested in.
We paid cash for our first two rentals about 1.5 years apart. We made sure we had enough cash reserves available after each purchase (which was $7,500 per unit).