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Updated almost 9 years ago,

User Stats

2
Posts
2
Votes
Lukana Boonma
  • Greenville, SC
2
Votes |
2
Posts

Investing for first house

Lukana Boonma
  • Greenville, SC
Posted

I am looking for first house to invest price not more than $100K I found many good houses and good condition around Greenville. I would like people to rent it right away after closing. The question is how I can avoid the loan money from the bank? because I would like to put 20% down payment. We already bought the first and ready to move in April. So after we are done from our first house I would like to start investing for the future. Not sure if people want to rent the house which is small and with ok neighborhood. 

Cost of investing 

- 20% down payment

- Homeowners insurance

- Title insurance 

- Home Inspection 

- HOA fee (if request)

- Loan fee

- Appraisal estimate 

- Closing fee

If someone rent the house, We have to pay all those costs at the beginning? what is the extra do we have to pay if we buy house for someone to rent it? 

Thanks 

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