Downpayment On Investment Property...
I live in a college town and have been thinking about renting a house out to students. I was wondering how much of my own money should I put down. I do have more than enough for a 10% downpayment, but I do not know if I should put more down or use as little of my money as possible. Also, I will be buying a house of my own in a couple years ( getting married), would it be wise to buy an investment property now or just keep saving for my own house. Any suggestions and commentts would be appreciated. Thank you.
I did exactly what cjmazur suggested and it has worked out very well for me. I fix up the place while I am there and after a year (requirement of owner occupy financing) I repeat the process with another duplex.[ Edited by d_random on Date 05/24/2007 ]