Updated about 6 years ago on . Most recent reply
Houston Rental Properties
Hey BP Family! So I've been running comps, trying to get my first rental property under contract. I was wondering if any of the vets would be willing to share some insight and tips! Im looking to use a FHA loan, stay in it for maybe a month or so, then get it rented out. My issue I keep running into is that because I'm using a FHA, PMI is eating away at my cashflow and I'm having trouble finding anything with a big enough margin to jump on it. Some things I have thought of was 1. Finding something I can put 20%(very few options) to avoid PMI. 2. Find a fixer upper( If anyone has any contractor referrals please let me know!) 3. Finding underpriced homes. If anyone has some helpful ideas it would mean a lot! Thanks BP family.