Do I have enough cash to invest?
Hello,
I am done sitting on the sideline and now I am ready to purchase my first buy and hold investment property to rent out.
I have my pre approvals from the bank and with 20% down payment I can only afford to purchase a property under 75k. In the Atlanta metro area I am not finding a good selection of properties that don't require a lot of work.
1. Do I have enough cash to investment in class B rental property right now? Should I save up more to find better quality properties?
2. Are there any banks in ATL market that do investment properties loans with lower down payment?
I have targets that I want to make in cash flow, but I am not sure if it is realistic with the current budget I have.