All Forum Posts by: Shabre Gantt

Hello

I am working with my local credit union to apply for a loan on a investment property. I want to do a conventional loan but they said i can only get that type of loan if i am purchasing a vacation home due to me already having a primary home. I want to buy in my backyard but the bank says my "vacation home" must be at less 50 miles from my primary residents. I want to go the conventional way because i will only have to put 10% down.  Any advance on how can move forward with getting the right type of loan?

I have 10k saved and looking to do the BRRRR method in my area. I question if 10k is enough to cover cost of rental and the rehab. I have done research in my market on the MLS and homes are avg. more then 10k just to purchase. I am questioning if i should use my owe money to purchase and rehab my first rental property or use a bank. Also, i would like to learn of better ways to look for a good deal outside the MLS. I have a great interest in actions but i am unfamiliar with process or how to get involved and would love to connect with someone who has purchased homes via actions to learn more about the process, pros, and cons.