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Updated 10 months ago on . Most recent reply
Out Of State Investing
Hi Everyone, I'm just starting out and recently signed up for the bigger pockets forum!! I am looking to connect with people who are doing out of state investing. I have been analyzing a lot of different areas in Cincinnati, Cleveland and Columbus. I just started out in my career but I am struggling in how to find financing for the deals that I find. I know I will have to put down at least 20% with an FHA loan. But is there other ways to finance a deal without it? Any thoughts or advice? Thanks
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Quote from @LeRoi De-Souza:
Hi Everyone, I'm just starting out and recently signed up for the bigger pockets forum!! I am looking to connect with people who are doing out of state investing. I have been analyzing a lot of different areas in Cincinnati, Cleveland and Columbus. I just started out in my career but I am struggling in how to find financing for the deals that I find. I know I will have to put down at least 20% with an FHA loan. But is there other ways to finance a deal without it? Any thoughts or advice? Thanks
An FHA loan is 3.5% down and you need to live in the house for at least 1 year. A non-owner occupied loan is what you sound like you need. That's going to be 25% down.