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Updated almost 10 years ago on . Most recent reply

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Daniele Reeder
  • Apple Valley, CA
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Investment Properties

Daniele Reeder
  • Apple Valley, CA
Posted

What is the best kind or type of buy and hold properties for an RE investor? Duplex triplex, fourplex, or individual properties? Also, what is the best way to acquire these types of properties with a loan? What is ideal to put down? 10-20%?

Thank you!

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Josh Mitchell
  • Real Estate Agent
  • Naperville, IL
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Josh Mitchell
  • Real Estate Agent
  • Naperville, IL
Replied

4plex would be the best way to start if you can afford it. Just think, one roof, one appraisal, one inspection, etc. If you are going to live in one of the units, you can purchase it using an FHA loan for 3.5% down. You have to live at the residence for atleast a year, and you cannot have more than one FHA loan at a time. You would need to refinance out of the FHA to get the PMI to come off of the loan as well. If you are going to buy it as an investment you will have to do 20-25% down payment.

@Daniele Reeder

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