I have $3000 saved and want to take out a loan to purchase two properties and possibly a third. What advice would you give?
One is $18000 with no visible issues another is 12000 studio that could work well as a rental property. I would use the rental as income. Any suggestions?
Answers | 3
Then there is marketing, SGA expenses, appraisals, comps, etc.
Those are just off the top of my head.
Feel free to contact us directly to discuss your proposal in greater detail.
It's not what you make, It's what you keep that determines your lifestyle.
On the other property if you are going to live in it then it's not an investment. If you are not going to live in it, then the issue becomes the price you pay and the likely rise in prices, which is best determined by looking at what other similar properties in the immediate area have sold for.
As with all investments, it is vital to remember why you are making the investment and what your targeted rate of return is.
Is that All your savings??
You need to start with an emergency fund - 6 months living expenses, before thinking of buying any properties.