All Forum Posts by: Nick Santamaria

Would it be smart to use an FHA loan on a house that I won't be living in full time but then looking to rent it after the first year? With not enough cash to put down a 20% down payment, I was thinking this might be an option and take a hit over the course of the year and then start building cash flow in Year 2 to save up for another property. The second "home" would only require a 10% down payment, correct?

Looking for advice!

Hey everyone!  My motivation to start out buying and renting out properties is growing day by day but I am looking for any guidance and advice on how to move forward with a few properties that I predict with not only grow in value in the near future to sell but to provide consistent cash flow month to month.  My main concern in "affording" the properties and I can only put about 3-5% down on the property.  Is that ideal or should I put myself in a better spot financially before making any moves?