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Updated over 8 years ago on . Most recent reply
Townhouse/condo for my first investment
Hi everyone! On a previous post I was asking about house hacking, but my initial idea consisted on buying townhouse/condo in Columbus Ohio . Here's my two questions:
- I've heard people say that Investing in Apartments condo/townhouses its a headache because of many reasons. But prices here in Columbus for apartments are good, compared to some SFH, and since this is my first investment, I rather spend as little as possible. Whats your opinion on that?
- I understand the concept of a FHA loan, and live in the property the 1st year, but, how big is the difference from that to buying the apartment with an Investment Loan? I don't mind the 25% down payment if I can start renting the unit right away. Is the Interest rate of a Investment loan that much more?
Thanks everyone!!! :)