real estate investment

nicespringgirl · #1 Sep 10, 2007, 10:52 AM

When to start investment on real estate? How much savings should one have suffiently before starting real estate investment?

Thanks

Joe Mortgage · Sep 11, 2007, 11:19 AM

Quote:

Originally Posted by nicespringgirl

When to start investment on real estate? How much savings should one have suffiently before starting real estate investment?

Thanks

When, is when the market is low... I have a lot of clients buying right now at a very nice discount. As far as savings there are a few variables...

~ How do you plan to purchase? (Hard money or regular lending?)
~ Depending on your credit and method of purchase will determine how much you are going to put down.
~ Personally I recommend at least 6 months mortgage payments in a savings account for any repairs or vacancy.

Let me know if you have any more questions, I'd be happy to help.



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