Updated almost 5 years ago on . Most recent reply
building funds to buy rental home
Hello all, I recently discovered real estate investing and so all of this is very novel to me. Since I have discovered this world I have become determined to buy homes and rent them out. However, most homes in the Phoenix area are very expensive and way outside of my budget. So, I'm looking for ideas on how to gain the capital in order to have enough to make a down payment on a home in the gilbert/chandler/ queen creek area. Any ideas would be greatly appreciated. I am also looking for the REIA of the area...
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Buy a 2/3/4 plex using FHA with 3.5% down, move into one unit. Have the other tenants pay the mortgage and expenses. Save the money you would use in your budget for rent/mortgage towards next purchase.