Buying your First Rental Property
I’ve been doing a bunch of reading and research and just wondering at what point are you financially ready to buy your first rental property? I have little consumer debt but not very much money in savings. Should I build my savings to 10-15k before pursuing my first property? I see everyone say just jump in and once you get your first then the next few get better but I don’t feel right going in without a emergency fund. Would love some input.
Most Popular Reply
Is house hacking an option? That would open you up to some cheaper loan options like RD and FHA. If it's not, I recommend reading Brandon Turner's book on investing with little or no money down. It can be done with a little creativity and some leg work. But really @Anna Laud made one of the best answers to this question I've seen yet! Good luck!