What to think anout when buying your first rental

[Todd Turberville]

In the process of looking /buying a property.

Wanting some input on the idea of buying said rental and living in it for a short time only to rent it afterwards .

I don’t have 20% for a down payment

Thoughts ?

[Todd Turberville]

@Nathan G.

Yeah Nathan that seems like the plan I’m gonna have to do. As of now I bought and flipped my first house 8 months ago and paid off all debt.

Now I’m living in an apartment and like you said the Morgage company I talked to locally said since I don’t own a home , and it would be considered an “ investment property” I would have to put 20% down .

Otherwise commit fraud and call it my “ primary residence” when it’s not lol