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11-21-2007, 10:05 PM #1
Fixer Upper
- Join Date
- Sep 2007
- Posts
- 35
Buy 1 Or Buy 2 ?
I have $45k to use to purchase my first property to rent out. The way I see it, I can put 80% down get some cash flow or put 10% down break even and use the other 10% on a second property. Thoughts?
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11-22-2007, 08:29 PM #2
Renter
- Join Date
- Oct 2007
- Location
- st louis, MO
- Posts
- 14
buy 1 or buy 2
I think you will need to decide this one based on your situation. I presume you meant to either put 20% down on one or 10% down on two.
both have advantages. If you buy one you will be taking on less risk but the reward probably will not be as great. If you have a vacant unit do you have the personal cash flow to handle the vacancy? I get much better loan terms when I put down 20%.
If you do not need the extra cash flow from the property and you want to leverage you money then you might go for buying two.
Best of luck in what ever choice you make!
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