I get emails every month from people who want to know the basic first steps involved in buying an investment property. How much money will they need for a down payment? What are the mortgage requirements? etc. Many of these people have never bought RE before. If that's the case the best way to start is to simply buy your principal residence first. Move into it and start saving for the down payment for your second property. There are a number of advantages to buying your principal residence first and then renting it out down the road. With the current mortgage qualification criteria that we have for investment properties it's the only route to take for most would be investors.
This entry was posted on February 21st, 2014 by Owen Bigland | Posted in Video Blog