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Updated over 5 years ago,
Best loan to use when starting a rental company?
Hello,
I am a co-investor in a new rental company that I will be starting with one partner. We plan to start small in Omaha, NE. My question is, what is the best loan to get when putting 20% down as your first loan to buy the first properties. I say first properties because ideally we would like to buy 2 houses to begin with for the first year or so. Unfortunately we are out of state investors so house hacking and FHA loans are out, so we know we will need at least 20% down. Is it more beneficial to purchase the two houses on two separate mortgages or is it possible to take out one loan that we can purchase both houses under. So basically, the question is what is the best loan to use to purchase these first two houses.
Thank you for the advice!
Sam