Long term investment
Hello fellow Wichitans,
I purchased my first home last August and want to start investing in rental properties for the cash flow. I am so green and trying to learn as much as I can on the WWW. There is a wealth of information, just need to keep learning each day. I have LOTS of questions. :) I am able to put 20% down for a house at $100,000 or less. Is that enough or do I need 25%? For some reason I thought I read somewhere I need 25%. Also, what about auction houses? Does anyone know of lenders I could work to obtain the cash up front? Aslo, do you think pocketing $400 per month is obtainable per house with 20% in and then renting it say for an 80,000 house?
I'm excited to start this journey and happy I found this site today. Currently, I'm out of state, but will be back at the end of March and am hoping that first rental property will be on the horizon.
Thank you ,
Gwendolyn