Primary residence may be limiting my purchasing power!

[Mike Wheeler]

I’m currently in my primary residence which I purchased in 2011 but I want to purchase a second home to rent for cash flow.

I have 20k for a down payment but having the first mortgage the amounts that I’m qualifying for with lenders are way low. I live in MD and it looks likes I may have to look out of state for a descent property.

I really want to get a rental property but I don’t want to get something crappy because of low cost.

Please help with suggestions!!!

[Brian Van Pelt]

@Mike Wheeler

I'd look at condo's if i were you. They are inexpensive,easy to rehab and maintain, easy to rent. You can purchase 2-3 for the price of 1 SF