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Updated almost 5 years ago on . Most recent reply

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13
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3
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Natasha B.
3
Votes |
13
Posts

Saving to Purchase First Rental Property

Natasha B.
Posted

I want to start renting out property. Possible a multi-family house. My question and concern is it possible to save 10,000 and purchase a house? Would this make sense to save this amount to buy a house outright? Yet, if I went to a bank and told them I had a down payment of this much would this help me get a loan. The problem is I do not have a job right now, but I do have a source of income. I think it could take me a few years to save up. I was hoping when the coronavirus is over I have some of it saved. I already have some of it. Do you think their a better number to save up? 

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