Found a quad I like. Financing help?
Hey everyone!
Been browsing the site for what seems like ages and finally making a post.
I’ve had the desire to relocate for quite some time and have eyed quite a few city’s. I found a quad in the city I’d love to move to that already has 3 of the units rented.
I can come up with about 4% down in a month or 2 tops. This would be my maximum as saving more would significantly take longer as I have a few cars and a motorcycle that just collect dust that I don’t need.
In a perfect world I’d love to live in the available unit for free and make some extra money on the side.
The unit is listed for $375k. And are all 2bed/2bath with average rental rates in the area for that size being around $1000-1500month.
My field of work usually will get me 50-60k per year(pretax) and isn’t hard for me to find work
What would be the best type of loan I should pursue? I have never had a mortgage and own no property to leverage a higher down payment with And I’m dying to get into real estate investing
Thank y