Updated almost 11 years ago on . Most recent reply
Investment Property Prospect...!!!
Hello to all of my experience REI.....!!!
I need some advice....
As many may already know, l am an inspiring new investor. My husband and l saw a 2-unit property in Onterio, OH. One unit is has 3 BR, 1.5 bath 2 car garage ranch unit, second unit is a 2 BR, 1.5 bath 2 car studio style unit. 2,833 sq ft. Lots of additional parking. Separate utilities including water & sewer. We would like to pay nothing but taxes and insurance. The asking price is $144,500.
Now, my husband and l are planning to move to Ontario,OH in 2 yrs from Euclid, OH. We are thinking about investing in a property there as a rental and than move into one of the units when we move in 2yrs. Since we already have a mortgage on our current property, we would like to know ways in which we can finance this new property without doing a down payment. Should we get another mortgage? How would you go about this venture if it was you????