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Updated almost 4 years ago on . Most recent reply

User Stats

33
Posts
4
Votes
Brian Nalley
  • Homeowner
  • Elkridge, MD
4
Votes |
33
Posts

Loan suggestions/options for first deal

Brian Nalley
  • Homeowner
  • Elkridge, MD
Posted

I am buying a single family house for myself, closing in a few weeks. About a block over, there is a house for sale that also has a 2 car garage behind my new place (It is a weird layout in a small downtown area). Anyway, I REALLY want to buy this place. I want to rent out the house, and then use the garage for myself (my new place does not have one). I have been pricing getting a stand alone garage (either prefab or built) and for what it will cost, buying this house seems like a much better plan. And, I get rental income! The problem. of course, is that I am buying one house already...heh. The other house is pretty cheap ($160k), but I dont have 20% down at the moment. Anyone have any ideas, or other loan options, etc? Thanks!

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