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Updated over 1 year ago on . Most recent reply
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Getting my feet wet and considering first rental property
Hi all - would love to get some initial thoughts from you seasoned pros out there. I live in Thousand Oaks, CA. Median home price is around $980k. There is a lower priced neighborhood nearby - Simi Valley (800k). I currently have slightly over $100k saved. For those that have been there before, I'd love to hear recommendations/comments/questions. Appreciate it!
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- Lender
- Austin, TX
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I would **generally** agree with the other commentators that when diving in for the first rental, thats a lot of money down and a high price point considering a lot of people "learn a lot of lessons" (i.e. make mistakes) on the first one, so its generally better to take a little less risk / $$ exposure when just starting out