Getiing started buying first rental property
HI my name is Colin I'm 21 I live in Canada and I'm brand new to Bigger pockets and I'm looking to buy my first property sometime in the summer but until then I'm just trying to educate my self as much as possible. My plan to getting started is to buying a single family house 4-6 bedrooms for around 200-300k and renting out each bedroom for around 600 a month the area I'm looking to invest in has 2 major university's and 1 major collage so id be looking to rent to students , I do not have enough money to put down a conventional 20% down payment for an investment property so id have to put down 5-10 percent down with Mortgage insurance and put it as my primary residence but realistically I wouldn't be living there. I would like to get some opinions or advice on this idea and what you guys think?