1st time rental home buyer
Hi Everyone!
I am looking at putting in an offer for my 1st rental home. It has 2 large units with 4 bedrooms in each unit.
It is 85,000, taxes are super low. Rents are $700 in each unit currently.
Does anyone have a referral for financing? I have been pre-qualified by 1st Priority , for conventional fixed. The interest rate is 4.6 with 25% down, 30 years. Is this a decent deal? I am brand new to this so looking for any advice at all from experienced investors.
Which other banks should I call? Or should I go with a broker?
Also, asking price is $85,000, so I may get it cheaper.
Thank you in advance !! Yvonne in Buffalo