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Updated about 10 years ago,
New guy from Phoenix, AZ
Hello everyone!
My name is Shashi and I am 22. I am getting started into RE as a part-time gig (full-time for now). I am shipping out for my basic training in two and a half months which puts me in this dilemma. Should I try to buy an investment property with 20% down today or should I wait and put a lower down payment once I am in the army (total training length-6 months)?
Also, I have found a couple of properties for 45k-50k and they have been priced down significantly since the property was first listed on the MLS website. The pictures shows that the house is in great shape. I haven't gone to look at the property since I am struggling to find a lender who would lend 50k on a rental.
What would be a reason for such a property to still be unsold? How could I get financed or if I should look for an expensive property to get financed easily?
Thank you