How to Buy Rental Properties: Part TWO
Posted by Mellanda Reese on Wednesday, August 16, 2023 at 10:23 AM
By Mellanda Reese / August 16, 2023
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I recently did a video on how to get 5-7 doors in 12 months with less than 8% down.
Here’s how you start…
Step 1: Get an FHA loan.
An FHA loan only requires you to put 3.5% down and you can buy up to four units. So you’re going to buy a four unit building with only 3.5% down.
Step 2: Live in one of the units and you allow tenants to rent out the other three.
This helps to pay down your mortgage and after 12 months, you’re going to refinance that property into a conventional loan.
Be sure to stay tuned for part 3!
Have any questions? Call or message me today, I’d love to help.
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