Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 10 years ago on . Most recent reply

User Stats

2
Posts
0
Votes
Josh Williams
  • Jacksonville, FL
0
Votes |
2
Posts

Newbie advice needed for rental property

Josh Williams
  • Jacksonville, FL
Posted

Hello, I am a 24 year old looking to purchase my first rental property here in Florida. I have been listening to podcast as well as doing a lot of research online about purchasing my first rental property. I have a full time job, along with good credit but my problem is that I have little funds to put down on a property at this time. What options do I have as far as getting a rental property with little funds for down payment? I feel that everyone(banks, hard money lenders, etc) wants you to put down 20% as a investor or 3.5% for fha loan but if I do a fha loan I believe I am required to live in the property for a year before I rent it out. Can anyone please provide advice or partner with me to help me on my first rental property without bringing a bunch of money to the table? I am more than willing to take any advice to get my portfolio started. 

Most Popular Reply

User Stats

10,262
Posts
16,130
Votes
Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,130
Votes |
10,262
Posts
Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

Welcome @Josh Williams !

Work more, spend less. Save money. Stay away from fancy cars, restaurants, coffee shops and malls. Picture the WHY.

Get @Brandon Turner's book  on buying low and no money down real estate.  I bought and read it and it's got a lot of great info in it!

Loading replies...