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  • Rental Property Investor
  • Yuma, AZ
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WOULD THIS STRATEGY WORK?

Account Closed
  • Rental Property Investor
  • Yuma, AZ
Posted Jul 2 2019, 15:27

Im cold calling people, but, Im thinking what I will do if I dont see results in 3 months. So here is what Im thinking I could do, but, of course, I woud like to receive good advices from succesful people LIKE YOU😀👍

PLAN: I need 20% down to get an investment property, right? But, what if I get an FHA loan with 3% down ( lets say it's 3k down ) but, I cant rent it yet, and I have no money to cover the payments ( lets say its 1000/mo ), after 1 yr, I will be able to rent it, so, I borrow 12k from Other people's money, and I pay the mortage payment for 12months, after 12 months I refinance the property and I get 12k back and I pay off my debt, then, I rent out the property!

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