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Updated over 8 years ago,
Loan type for rental property / Newbie
Hello! Newbie here so take it easy on me. I currently own 3 rental property's in South Carolina that I paid cash for that are doing well. I am looking at purchasing another home however I am interested in getting a loan for this property so I can utilize / leverage more of my cash for more properties. I don't have any experience with loans other than my primary residence and not sure how to go about financing a rental property. Should I just go with the normal 30 year fixed? Or is there other loans than investors utilize for rental property? I plan on buying this property and holding / renting for cash flow. I have very good credit and can put down whatever is needed. Current property I am looking at is $40K. I will be using my own cash to make any needed repairs. Thanks for any advice. I have learned so much by following and reading post from you all. Thanks!!