Hello everyone, I am a real estate agent licensed in MN. I currently live in Estero, Florida for 8 months of the year and my team also helps Florida residents. Personally I am looking to purchase my first rental property and am looking in the SWFL area (mostly Cape Coral). My situation is, I do not have my own permanent residence, as my work pays for my family to stay in an apartment. I would not be able to buy a home in FL with 3-5% down as it won’t be my permanent residence. I am trying to find a way to purchase a rental property at around 10% down instead of the typical 20-25% for normal investment properties. If anyone knows of any local banks/credit unions that may consider this or has any other ideas for financing please let me know and I would greatly appreciate any help or information. Maybe this won’t be possible for my situation but just figured I would try to get some input. Thank you!!
