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Updated about 9 years ago on . Most recent reply

User Stats

7
Posts
2
Votes
Chelsea Huebner
  • Wapakoneta, OH
2
Votes |
7
Posts

Cash/Credit Score Needed to Start

Chelsea Huebner
  • Wapakoneta, OH
Posted

Hi All,

I am trying to get my self set up to be able to start investing.

Do you have a general rule of how much cash to have in savings or what your credit score should be above before starting out? 

Also, I have not yet read a lot on the private lenders. How do you go about finding one in your area when you are ready?

Thanks in advance for the advice!

Most Popular Reply

User Stats

29
Posts
6
Votes
Chun Fai T.
  • Investor
  • Taylorsville, UT
6
Votes |
29
Posts
Chun Fai T.
  • Investor
  • Taylorsville, UT
Replied

if you starting by buying your own primary residence first and then move out a year or more later to acquire another property,  you may start as little as 3.75% down plus the closing cost and any other fix up fee related to the house.

Of course, you may need to obtain an advice from a local mortgage broker which is more specialize of this matter.  Good Luck.

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