Paying Off Rentals vs. Buying More and Low-Money-Down Loans (Rookie Reply)
Description
What’s the “right” way to build your real estate portfolio? Once you’ve taken down your first rental property, should you focus on paying it off? Or should you buy more properties, even if it means taking on even more debt? You’ll want to hear where we stand in today’s episode!
Welcome back to another Rookie Reply! Today, Tony and Ashley are digging through more of your recent real estate-related questions. First, we’ll discuss paying off your mortgage versus using that money to buy more rental properties. After that, we’ll compare the pros and cons of FHA loans and show you an easy way to estimate closing costs. We’ll also cover some other low-money-down loans that you may have never heard of! Finally, are you struggling to fill vacant units? Tired of apartment tour no-shows? Stay tuned because we’ve got a strategy that makes “serious” applicants stick!
Looking to invest? Need answers? Ask your question here!
In This Episode We Cover:
Whether you should focus on paying off your mortgage or buying MORE rentals
The pros and cons of getting an FHA loan for your rental property
The “hidden” closing costs you CAN’T afford to miss (and how to calculate them!)
The best ways to put low money down on your next property
Finding “serious” applicants for your rentals (and lower vacancy rates!)
How to save time by streamlining your rental application process
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Ask Your Question for a Future Rookie Reply
Grab “The Book on Rental Property Investing”
Find Investor-Friendly Lenders
Real Estate Rookie 261 – How Nancy Rodriguez from ‘Love Is Blind’ Hit Financial Freedom BEFORE Fame
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-505
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