All Forum Posts by: Todd Turberville

Ok here’s my thoughts ,

I’m thinking long term like 1-2 years from now , my plan is in a few month to buy a single family home , live in it for a short time; and then turn it into a rental. Once I turn it into said rental I go and buy another property to live in as a primary residence .

Is there another way to go about buying rental 2,3,4,5 and so on without putting 20% down?.

I’ve read about conventional loans and 5% down but I’m not sure if that applies here.

This situation above is the plan I have for the near future . I’m just trying to make sure i have the right mindset going into this and making sure I plan accordingly.

Thank you for any and all input in advance !

I’m in the process of putting an offer in on my first investment property .

And trying to factor in all the monthly normal expenses for a rental. I was putting in 15% for vacancy on a month bases.

Is that too much ? Too little ?

Thanks for the advice In advance guys !

@Nathan G.

Yeah Nathan that seems like the plan I’m gonna have to do. As of now I bought and flipped my first house 8 months ago and paid off all debt.

Now I’m living in an apartment and like you said the Morgage company I talked to locally said since I don’t own a home , and it would be considered an “ investment property” I would have to put 20% down .

Otherwise commit fraud and call it my “ primary residence” when it’s not lol

@Theresa Harris

Good input!

Yeah my only worry is my fiancé getting attached to it lol I know i won’t !

@Aigo Pyles

Ahh

I bought my first house and flipped it about 8 months ago .

@Mike Morawski

Yeah could you tell me how that would work with the seller helping out ?

In the process of looking /buying a property.

Wanting some input on the idea of buying said rental and living in it for a short time only to rent it afterwards .

I don’t have 20% for a down payment

Thoughts ?