Updated about 13 years ago on . Most recent reply
First Investment Property Purchase
Brand new to BP.
My wife and I are wanting to buy first rental property. Not wanting to bite off more than we can chew our first go round, we are thinking in the 25k to 35k range for a fixer upper (HUD/ Foreclosure/ etc.) condo/townhouse.
My question is, would it be better to sell off some stocks (not iras) & pay cash, then secure a first mortgage after renovations are complete?
Or put 20% down and secure a loan from the get go?
(for this small of a loan I plan on using aimloan.com or our local credit union)
Advantages/ disadvantages?