Where to deploy 50k in DFW real estate?

[Brandon Craig]

Hey all. 

Looking for advice on my first investment property but I don't know the best option to choose in DFW.

- Pre approved conventional loan for 600k / 15% down / 6.2% interest

- I have 50k total to deploy

- looking at long term rentals in the 200-230k range anywhere in the metroplex because I only have 50k to deploy. 

- My goal is $300 minimum per month $500 ideal as I would like to get 20 or so and quit my tech job.

Thank you in advance.

[Reid Chauvin]

Hi @Brandon Craig - just so you're aware, if you are putting 15% down on an investment property loan, you are very likely paying discount points, probably a few thousand dollars' worth. If you put 25% down then you will likely not have to pay discount points for a similar rate. While putting 25% down will end up being more money upfront, at least that money goes directly towards equity in your home, whereas paying the discount points is just an additional fee to the lender.