New to real estate investing

[Bianca Kwon]

Hello everyone!

New member here! Just wanted to the seasoned investors about my situation.

Currently renting out but hoping to buy a property either this year or early next year. Husband and I don’t have a property yet and was gifted some down payment from family. Should we keep renting and just look for rental properties to start or should we buy a primary home first and refinance that later and use it to buy rental properties later.

Thank u!

[Anthony Therrien-Bernard]

I would highly recommend that you buy a suited property and rent the basement (or even better live in the basement). This will allow you to buy a rental property with 5% down and if you do this right you can basically live for free which will supercharge your savings for the next property!