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Updated over 4 years ago on . Most recent reply
- Real Estate Broker
- Philadelphia, Pa
- 90
- Votes |
- 220
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Buying a second property
I am looking to buy my second property, this one would actually be for myself to live in and i would be renting my current home. A few things to consider:
- My current home is financed through FHA
- The new property is around 300K
- I do not have much saved up (about 5k) due to using it to do work on my current house
- The new property is in USDA territory, but i was told i would not qualify for that
- I do not have any debt
- my current income is 80k
I found a house I would love to buy, however considering the above, what are your suggestions? what can I do to get into this new property. My goal is to purchase this house for myself and S/O and ideally keep my current house as a rental, and continue to purchase more rentals.
- Brandon Ribeiro
- Podcast Guest on Show #2
Most Popular Reply
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
- 13,508
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#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
You don’t have the cash to make it work.