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Updated over 5 years ago,
first property, pre rehabbed or not?
Hello I'm about to buy my first property within the next nine months. I'm going to purchase this property with an FHA loan. I don't have much capital for upgrades if I buy something that needs some rehabbing. But I could get something that is already nice in a up and coming neighborhood and rent out the other unit right alway. The property I'm looking at that does not need and work will cost me around 1100 dollars out of pocket every month with the other unit rented out. Which is cheaper then my rent now. After the first year, when I move out and rent the other I'll will start to have cash flow. And the rent and value should rise over time as well. Should I buy something like this, to get my feet in the door, or should I wait and save more for rehabbing
Thank you