All Forum Posts by: Charlotte Wilson

I just bought my first investment property (single family home) that I plan to rent out. I plan to keep expanding my portfolio but am having a dilemma.

let's say I have about $100K sitting in my bank account ready to spend on properties. Is it best to put down the 25% down payment (Illinois requirement) to avoid PMI and have less properties or to put down the minimum required down payment to have more properties but lose out on paying for PMI every month. (I understand I can refinance once I have 20% equity to get rid of PMI later) I have a hard time figuring out long turn what works best from others experiences. Any advice or tips would be appreciated.

Besides comparing to other rental single family homes in the area (I use Zillow) how do I best determine what I can charge for a monthly rent that won’t be too high or especially too low. Utilities will be separate from monthly rent.