read research read and then research some more. talk to a good broker and see where you stand from a loan stand point first so if you have to work on some things, you can do so while you read. when you are confident, go for it.
I’m convinced the best investments in my town would be in long term rentals. What are my options in obtaining financing for these properties? My town has ridiculously cheap properties that would bring in rental rates at 5 to 6 times the estimated mortgage. What strategy should I take to secure these properties. I’m a recent college graduate, mid 600’s Fico, not much money for down payment. I’m anxious to began REI. All criticism and responses are appreciated.
if you have done the home work then i say try get one property and see that goes. If the rent is 5 time the mortgage payment it a no brainer. One question is if the properties are low why is the rent so high.