Updated over 6 years ago on . Most recent reply
I bought my Home with Zero down, now I am considering Renting it
Hi BP community! First of all I want to say the podcasts and you tube videos have brought me here and I can't wait to become part of this community! I am a newbie here. I am wondering if my current situation is unique or common? I am currently living in my first home, a 2 bdrm 2 bath. I purchased it with Zero down and already fully renovated, besides the rear yard landscaping/shed that I paid for. My purchase price was $262k and my closing cost was approx $4000, and I am invested all in at $6000. I have only lived here for 3 years (5 yr contract fixed rate @2.84%). I'm looking to buy a cheaper home to live in while I rent out my current property. Has anyone else here gone through a similar process? I work a full time job with shift rotations that allow me to work just 14 days a month with a gross annual salary of $72K. I have a lot of free time to manage the property myself for the time being. Any input is appreciated!