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Updated almost 12 years ago on . Most recent reply

Chris M.'s profile image
Chris M.'s profile image
Chris M.
  • Investor
  • from Blacklick, Ohio
  • Member since Mar 26, 2013
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Chris M.'s profile image
Chris M.'s profile image
Chris M.
  • Investor
  • from Blacklick, Ohio
  • Member since Mar 26, 2013
Connect
Chris M.
  • Investor
  • Blacklick, OH
0
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2
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Starting Out

First Investment Property Purchase

Chris M.
  • Investor
  • Blacklick, OH
Posted

Brand new to BP.

My wife and I are wanting to buy first rental property. Not wanting to bite off more than we can chew our first go round, we are thinking in the 25k to 35k range for a fixer upper (HUD/ Foreclosure/ etc.) condo/townhouse.

My question is, would it be better to sell off some stocks (not iras) & pay cash, then secure a first mortgage after renovations are complete?

Or put 20% down and secure a loan from the get go?
(for this small of a loan I plan on using aimloan.com or our local credit union)

Advantages/ disadvantages?

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