Originally posted by Will Barnard:
TJ,
There arte many lenders that would loan to poor credit with 50% down, in fact, you could even get a non-recourse loan with as little as 30% down on a rental. As far as your question of 50% down/50% cash, you would have lots of positive cash flow, but you would be giving up some leverage. What if you bought 2 with 30% down. Wouldn't your return be greater? - It would!
Vegas is a great market for a buy and hold strategy, rental demand is high, and you could sell via owner carry loans as people will pay premium for the non bank qual loans as well as higher interest rates, improving your returns.
So if you were 24, lived in Vegas, had poor credit.. and 100k(ish) to invest in real estate, how would you do it?? 2 or 3 properties with less down?? I have a retirement account so its not like im planning for " retirement" I guess I just want to start now and keep building.. I guess I'm looking more for long term profit then anything in the short term.. so definately a buy and hold type thing... thanks again for the help everyone, you guys are amazing.
