d to get started in buying real estate, if they have good credit.?
2007-01-28 05:56:38 · 2 answers · asked by lefty 4 in Business & Finance ➔ Renting & Real Estate
I have about 8k, is this enough?
2007-01-28 05:56:58 · update #1
Technically, you don't need to put any money down, but you will have a very high rate. It is advised that you should put at least 10% of the purchase price down, so if you have $8000 to put down, plan on looking for something around $80,000 and not too much higher otherwise the interest will kill you.
2007-01-28 06:28:46 · answer #1 · answered by aimeedarling19 2 · 0⤊ 0⤋
It wholly depends on where the land is. I found a plot of land for 9K..... Do your research on the net and you can find land for sale. Also, go to a bank and prequalify for a loan. Find out how much money you can get to buy properties. I don't know where you are but think about buying a condo and renting it out. Anyways, check some of my other real estate related posts and they will probably help you out. Good luck.
2007-01-28 14:22:30 · answer #2 · answered by Kenneth C 6 · 0⤊ 0⤋