Updated about 13 years ago on . Most recent reply
funding the first property
Hello all,
Wanted to ask some advice about funding your first property. My plan is to get my first property as a rental by getting a conventional mortgage where I hold the note and then rent accordingly. I would then borrow against my 1st rental property to fund an additional property and so on. Is this a good way of going about property acquisitions? Or is it better to take the private lending route to flip a property, take the profits whtaever they may be to give the lender their percentage, and then use those profits to put towards a rental property? There are several homes in my area that I would love to jump on...its just a matter of taking that first step and ensuring that the correct funding is in place. Any advice would be greatly appreciated. Thank you.