Posted by Karen on April 06, 2006 at 21:55:09:
thank you.
help on first investment property - Posted by Karen
Posted by Karen on April 04, 2006 at 20:33:36:
Hi, I need your guidance. My husband and I ran across a small property to invest in. It appraises at $67k, seller is only asking for $45k.
Here are my challenges:
What would you suggest we do to acquire this property with our current picture?
I appreciate any and all responses.
Re: help on first investment property - Posted by Shambhu Nath
Posted by Shambhu Nath on April 06, 2006 at 21:45:01:
With your score, it will be hard to get zero down investment loan. IF you can document your income, you may be able to buy this one with some down payment and your personal residence with zero down. So use your down payment for NOO and zero down for personal residence, Make sure you talk to a professional before you do this; so you can see how much down payment you need to buy rental and if you can get zero down for personal residence. If you can live in this house for some time, then may be live in the house as it has equity and then buy personal residence in the future.