I own a townhouse that I rent out and live in a house that I rent. I will sell the townhouse to have a down payment to buy the new house.
2006-12-12 15:01:50 · 8 answers · asked by VATreasures 6 in Business & Finance ➔ Renting & Real Estate
I am not looking for a particular lender. I want to know what type of financing is best for my situation. Owner occupied loans require moving in much sooner than a year after purchase. It seems that investor financing would be paying too much of a premium considering it would only actually be rented for 2 years at most.
2006-12-15 01:47:20 · update #1
If you are planning to own a new house for 7 years or more, get a fixed rate. However, if you are planning to keep the property for less than five years, get interest only for 5 years.
2006-12-12 15:25:56 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You can actually purchase investment property without a down payment and with the money of other investors if you have the right information. You can check out:
http://www.goodlife4all.net/yourownhousein10days.html
This information is top secret. It is helping people who never thought of owning their own house to move into one and even start with an investment property within a short, short time. Hope this info will help gain greater success in your real estate venture.
2006-12-14 10:12:30 · answer #2 · answered by Anonymous · 0⤊ 1⤋
RENT. First, one million one million/two to two years simply is not sufficient time to construct fairness and canopy the expenses to buy and promote. second, while you graduate, the percentages are you'll be relocating. The final factor you wish is a condominium to promote. Rent, you're younger and cellphone.
2016-09-03 16:10:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋
To keep the most amount of cash in your pocket I would recommend an option ARM. This program is used by many many many savvy real estate investors because it makes the most out of the principal of leverage.
If you want to discuss your exact options in detail (including rates, etc) just send me an email, a message on YIM!, or fill out this form and I will get back to you as soon as possible:
http://www.realty-guru.com/Consultation
2006-12-12 19:31:12 · answer #4 · answered by Anonymous · 0⤊ 1⤋
I urge you to study the relevant real estate cycle first before you buy. It may prevent you from getting into a bind. Good luck!
2006-12-12 15:33:52 · answer #5 · answered by Alfretz T 3 · 0⤊ 0⤋
Read Harj Gill`s book and look at the website
2006-12-12 15:46:42 · answer #6 · answered by milan 1 · 0⤊ 0⤋
best financing now is Cash and a better understanding of the cash you'll lose in up coming years if you are not lucky.
2006-12-12 15:09:17 · answer #7 · answered by Anonymous · 0⤊ 1⤋
Don't buy now!! That would be crazy!
2006-12-12 15:06:13 · answer #8 · answered by mns0869 2 · 0⤊ 1⤋