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Updated over 3 years ago on . Most recent reply
Newbie with a down payment question
Hi BP!
My wife, 13-month-old and I will be moving to the Charlotte area in August, and we want to get started in real estate investing. Thus far, we are looking at Gastonia, Belmont, Mt. Holly, and Cramerton for investments because we will be living nearby.
We are also building our first home at the same time. While we have a full 20% down payment in cash ready for our own personal home, I'm wondering if I should only put 5% or 10% down (because with rates as they are, money has never been cheaper before) and taking the remaining 10% or 15%, which would be somewhere in the neighborhood of $30k-$50k, to invest in a BRRRR deal.
Also, would love to connect with someone active in the areas described above to discuss!