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Updated over 3 years ago on . Most recent reply

Kyle Barnhart's profile image
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Kyle Barnhart
  • Member since Feb 25, 2021
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Kyle Barnhart's profile image
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Kyle Barnhart
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Kyle Barnhart
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Mortgage Brokers & Lenders

Investing in Arizona

Kyle Barnhart
Posted

I am looking start buying rental properties. How much would I need to save up for a rental property?

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Paul Welden's profile image
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Paul Welden
  • Real Estate Agent
  • from Tempe, AZ
  • Member since Jan 13, 2011
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Paul Welden's profile image
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Paul Welden
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  • from Tempe, AZ
  • Member since Jan 13, 2011
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Paul Welden
  • Real Estate Agent
  • Tempe, AZ
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Paul Welden
  • Real Estate Agent
  • Tempe, AZ
Replied

depend on your purchase price for each property and if you will pay cash or get a mortgage. 

For a mortgage, I recommend 25% for down payment + closing costs plus 6 months of reserves for repairs and just in case tenant stops paying rent. 

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