What type of loan should I look for

[Andreas Vikstrom]

Hi,

This is my first post here. I have for the last 4 years been reading and trying to learn about real estate and to get into the business as a landlord, but it is not until now I feel ready to do it.

I live in Los Angeles where the house market is so expensive and I've been saving and saving to even get a chans to start my investments. When I found BiggerPockets website, I have been reading a lot and realized that buying a house here to rent it out might not be easy to make a good deal out of.

I just found out about turn-key investments, and thought that might be a better option for me. I have been looking around to find turn-key companies in other states with good reviews. I finally found one that I like and will have a meeting with to see if they are right for me.

My question that I want to ask here is how to find the best type of loan. Since my investment will be in another state, I guess I need to find a mortgage broker in that state. I tried to read about it here on BiggerPockets, but there seems to be so many different types of ways to get finances and I just don't understand it all.

I have a credit score around 760 and I got savings enough for 20-30 percent of the houses I've been looking at. I just don't want to downpay more percentage than necessary, because I want to keep as much as possible for my next investment. Should I look for a conventional loan, like a bank or do you have any advices?

Sorry for such a long post, but it's my first and I just want to give you a background of myself.

Thanks
Andreas