Question about financing
I am generally new to the rental side of real estate. Just finishing up my first flip which I did as a commercial loan, and after reading a lot of material I'm still confused on something...
I'm looking to acquire units for rentals and want to use as little capital as possible. My banker is telling me I will need 25% down. Is it not true that myself and my wife can each acquire 4 properties at a lower percentage down rate through Fannie Mae? Or is the Fannie Mae deal only in regards to putting a house on a 30 year government backed mortgage? The house I am looking at is a 55k multi family. I would not be living in the location.
I want to obviously cash flow as much as possible and use as little capital as possible, so basically I am wondering what are the best possible terms I should be looking for?
I have credit above 750.
Any help would be much appreciated. This is my first post on the forum :)