First time home property rental new to BP

[David Williams]

Hi everyone I’m placing a bid on my first rental property it’s 3BR duplex in upstate New York going for 210,000. I’ve been preapproved with a conventional loan. 25% down and closing costs would come to almost 60,000 which I have but will leave me only 10,000 in the bank. That is a lot of my own money which I’m a little leery of removing but the cash flow for the property is about $1200 a month. Is there another option that does require a lot of my own upfront money or just the best way to go do you all think. Thanks Dave