Im a first time buyer and have multiple questions, im in a position were i have 20 thousand dollars available.I was thinking either buyin a condo or wether i should invest in sumone elses home so im able to get a 50% cut.
Thanks for writing into the forum. First off, that’s exciting that you’re going to be purchasing your first rental property. There are several options you could take. You could invest in a single family home, in a duplex, where you live in one of the units and rent out the other one or you could purchase a vacation rental property that you use for your own vacations and rent it out the rest of the year to offset the costs of home ownership. I would recommend working with a lender like Visio Lending so you can use the money you saved as a downpayment. Check out our section on real estate investing for more tips and feel free to ask any other questions you have in the forum and let us know how your first purchase goes.
All the best,
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