1st Investment, money down confusion
I am planning on investing in a duplex or single family in the Daytona Beach area within the next three months. For the duplex I plan on renting out 1/2 of it and earn cash flow from the rental.
I have access to the first time home owner load and VA loan, but my confusion is regarding the down payment required. I work a full time job and saving up for a 3% purchase is quite over whelming. I’ve dived in learning as much as I can with podcast/books/forums to figure out how to execute my first investment. I’m interested in finding a private lender/investor but how do I connect with someone.
Any pointers out there?
Most Popular Reply
@Zoisa Marsden for your first property and just getting started house-hacking a duplex with a primary mortgage with a 3% down payment is a steal. You need to have emergency savings and a maintenance reserves...I suspect if you are having trouble building the 3% then you may not have those important cushions in place. Slow down, save your down payment and reserves then make the jump. Best of luck!