Buying my first rental property
I'm 22 years old, just finished college, where I would like to buy my first investment property. I moved back in with my family to help me save to pay off the mortgage for the single family home. I have not made any decisions yet, however, I'm looking for a small house around $50,000 and looking to make a down payment of 20%. Is $50,000 a good amount for someone just starting out? This property will be used as a rental for my tenants.
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Keela Chambers one idea to consider is buying a two or three unit home to live in. You will get owner occupied financing and then you have one or two units as rentals.