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Conventional mortgages are not offered for rental properties. Be sure you get good information from any mortgage broker who quotes you and be certain the property is known to be an investment property.
Although I don't know what you're talking about in reference to some other persons post have you ever thought about how real estate investors start Investing? They start off not owning a home, living in one unit renting the other, renting out rooms in their own home. So I'm not understanding why it's hard for you to believe someone who's supposedly never owned a property could start Investing in real estate. BTW I've owned 2 homes
Please see the absolute difference between what you're discussing and this post.
And, please... come back crying after you've lost your investment.
OP: If you'd like, send me a private message with the address of the property in Michigan. I'll look into the property further to give you some more specific information.
Why not invest your money in a low risk vehicle like an index fund and let it grow a bit before buying one of these dog properties that you are too far away to manage? That way you can spend time doing the research and visiting the area to see what you are actually getting into. It seems like this $35k is burning a hole in your pocket.
Why not invest your money in a low risk vehicle like an index fund and let it grow a bit before buying one of these dog properties that you are too far away to manage? That way you can spend time doing the research and visiting the area to see what you are actually getting into. It seems like this $35k is burning a hole in your pocket.
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