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Updated over 4 years ago on . Most recent reply

User Stats

27
Posts
5
Votes
Jason Cook
  • Raleigh, NC
5
Votes |
27
Posts

First Rental Loan Options

Jason Cook
  • Raleigh, NC
Posted

Hello! I just recently bought my first home and currently house hacking it. As I am saving up now for my second deal I was wondering if there are any bank loans or other loans that don't require 20% down on a second rental property. I hope to purchase my first rental within a year or two. 

I'm 24 now but hoping over 10 years I can accumulate 10 properties that are generating $250-$300/month in cash flow. I do know one option would be to move out of my current house to purchase another house using an FHA loan after living in my current home for more than a year.

Thanks,

Jason

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