How much should I save for my first rental property?
Hi everyone,
So I am looking to buy my first rental property sometime next year in Knoxville TN. I have been saving up money, but I'm not sure how much is enough for my first buy. If I were looking to buy a house that cost around 100k via FHA loan, how much money should I have set aside?
Thanks,
Eric
Most Popular Reply
Eric Hernandez At very minimum, FHA is going to require around 3.5% down, plus you need to think of closing costs, agent fees, insurance, taxes, and cash to cover vacancies.