All Forum Posts by: Holly I Hansen

Ok, so in understanding you Ted, you would get a new property every year with just 5% down and not selling your previous homes each time by as Austen said, finding smaller banks willing to do that and as Michael said, moving 50 miles each time??

Thanks Austen. 

Hi guys, I'll preface this by saying I'm a new investor and I am trying to understand how I can use traditional funding on investment properties. I watched David Greene's How to Become a Real Estate Millionaire webinar last week whereby he talked about adding small multis to your portfolio each year and renting out one unit. When I called my bank (Quicken Loans), they said it would be considered an investment property, even if I live in one unit because I already own a home, which I would be renting out. Therefore, I'd have to put 20% down. In that case, why would I even move each year? I could then just stay in the house I'm currently living in and buy a property and rent all the spaces out. Am I missing something? Thanks!