SBA Loan Investing and More
Hello BP friends,
I have a question for the hive mind. I'm still a rookie to REI.. a super rookie. I have been running my own business for a few years and have had some success. I've managed to save 50K and I was just approved for an SBA Loan for 64K so I will have around 114K to invest in a property. I live in So Cal and can't afford anything reasonable so I'm looking to invest in Vegas.
Here's my question:
I've been looking at condos and townhomes in the 150-200K price range.
Should I use the SBA 64K as a down on a SFH as a rental property and finance the rest?
Do I use the full 114K use as a down payment and get a small loan for the rest or the