Angelo Foster Appraiser from Houston, Texas posted over 4 years ago Hello to all, new investor out Houston, Tx yee haw. What are the key factors to look for in a multi family property? I'm planning only living in the property for a couple years. What do y'all recommended I put down as a down payment?
Nicole Jones from Fresno, California replied over 4 years ago Oh man. It all depends on what you are looking for. For me automatic ability to cash flow and ability for value add are what I've been recently looking for in a multi-family property. What you put down depends on a lot of things. Because I'm old school and I buy and hold I'll always put down whatever I need to to get rid of PMI. I used to think that had to be 20% on an owner occupied investment property however my fiancé just got financing today for 10% down with no PMI.
Rico S. from Daytona Beach, Florida replied over 4 years ago @Nicole Jones Good day,My name is Rico from Daytona Beach, Fl. I am fairly new to RE and have yet to invest however Im in my educational phase soon to take it to the next level. 10% financing with no PMI!? How were you able to pull that off? How is the management side of things? I read your profile and notice you and your fiance are soon to kick it in high gear. Would love to hear more about your experience and possibly share any advice.Best Regards, Rico