Question about financing your first rental

[Shane McNamara]

I'm at least a year or two away from purchasing my first rental. I recently purchased my first home this past year in which I used an FHA loan. Are there any loans similar to FHA where it is low money down for purchasing a rental property? If not, any tips on getting to the point where I may be able to purchase my first rental?

[Thomas S.]

Little to no money down is snake oil sales hype. You need cash, probably 20-30% down.

It is unfortunate you already spent your money on a personal home, it is a liability not a investment and will hold you back from investing.

Shane has the right idea except I would sell the house and buy a multi plex and live in one unit. Owning a home is only a liability.