Investing in first rental property

[Reynaldo Rodriquez]

Hello everyone. I feel like it’s time to invest in my first rental property. I live in Miami and want to buy a rental property in NC.

So I am currently refinancing my own home to get some cash back. I want to use that cash back to buy the property in NC and then rent it out. However, what's the best way to go about this as far as financing so I can do little to no down? My own home is a VA financed home of that matters. I'm originally from NC and that's why I want to invest there. Any information or guidance would be great!

[Bill Ward]

I'm no expert but I'm pretty sure most investment homes need 20% down. You could move there and then as it would be your primary home maybe get 0-5% down, ride it out for a year and then move back to house #1.