Second Time Around

[Jason Kern]

Hi All, 

I've got my first one in the portfolio. I closed in December and it's a single family home. I saved up and paid cash for it because I was nervous about borrowing. So now I'm on the hunt for a second property and will have to finance. I've got some cash for the downpayment and have found a lender that'll give me 90% of the purchase price for 30 years fixed at 4.8+%. It seems like a good deal and I'm angling to get the second one that'll be net positive at least $200mo. Does this make sense? It seems much better than any of the Fannie/Freddie deals with less $$ out of pocket.