First Deal

[Brandon Chavis]

Hello everyone, I am fairly new to BP and currently looking to purchase my first buy and hold property. I work in Sales and plan to start out slow and do this part time until I gain the knowledge to fully commit to RE investing Full-Time. My question is, will it be a better decision to put 20% down on the property I purchase in order to avoid PMI; or to put 5% down and use the extra cash to potentially line my self up for another acquisition in the near future? I have already been pre-approved for a traditional 30yr fixed @ 4.2%.

[James Wise]

Money is cheap right now. I would go with 5% down and try to acquire another property.