Saved for a small down payment, Now What?

[Angela Fellows]

Hi BP,

We have finally been able to set back some money for a small down payment. We are currently renting a home and want to buy our first investment property.

I have been listening to several BP podcast and I'm learning that picking one route and sticking to it has proven to be successful. Such as, buy and hold, wholesale, etc. We can see our selves doing buy and hold to start out.

Our lease is up in May. Our plan is to get a traditional mortgage loan, put 3-5 percent down and go from there. We thought we would look for a duplex and live in one side or try to get a foreclosure.

Any suggestions/advice on our getting started plan?