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Updated almost 6 years ago on . Most recent reply

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Mayra Perez
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Is it the right time to invest?

Mayra Perez
Posted

Hello everyone. I have a full-time job, but recently became a real estate agent to get the ins and outs of getting the best investment homes + make additional side income.

My goal is to purchase my first investment home, thinking multi-family rental property (probably 3 units) near my area are around $150,000 and not enough funds for an the required 25% down on an investment loan. Should I try to work with a hard money loan? What am I risking by doing so?

I am dying to get to financial freedom, and have to start somewhere. Please help!!

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Brandon L.
  • Real Estate Agent
  • Falls Church
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Brandon L.
  • Real Estate Agent
  • Falls Church
Replied

@Mayra Perez  being a real estate agent offers you unlimited earning potential, but it takes a lot of consistent action to implement systems that will produce consistent income. You are only limited by how hard you work, and your ability to stay consistent and improve.

If you plan to use the investment property as your primary residence you will not need a 20% down payment. I suggest speaking with a connected mortgage broker so that you can learn about all your financing options.

If you have any questions feel free to ask.

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