pimpedoutgeese

Just wanted to stop by and wish you good luck with real estate investing. Good luck on all your future deals. Believe and Achieve! - Joe

Have you checked to see what you will be able to refinance the property for? You should know that before entering into an agreement. Loans on investment properties (rentals) will limit the LTV you can borrow and it will be less than if it was going to be your home. Plus if this is your first rental, the lender will have even stricter conditions because of the lack of knowledge & experience. Evey Lender is a little different, so shop around before you jump in. If you are going to live in it and rent it down the road as you buy more property, remember the 2 yr rule. No capital gains tax if you live there 2 full years plus a couple other little conditions. If you are going to live there & your area zip code qualifies, you could get a USDA 100% or more LTV. If you don't live there two year or at all and you sell it to buy another property, read up on 1031 Tax Deffered Like Kind Exchanges. They are great. I call it a little rule the rich created that actually helps the little guy too.