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Updated over 4 years ago,
First Rental Loan Options
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