Investing in Single family homes?
Does anyone have experience in investing in single family homes? I currently own a duplex and for me to buy another property I need a low down payment. The option my lender is giving me is a owner occupied loan at 5% for a single family home. Please give me constructive advice on investing in single family homes.
Most Popular Reply
@Michael Modugno I agree with the above responses BUT... my local lender requires 25% down on the next house if you're holding the previous primary and renting it out. The new property is considered an investment property. Idk if your lender treats it the same way but that's our experience.
I try to avoid this a buy distressed properties with cash and finance out doing BRRR'ish deals. Basically the value add strategy bridges the down payment gap. We're adding $30-35K in value on a SFH. It's slow growth but the properties cash-flow and the journey goes on.