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My Budget

Minimum Down Payment $10,000.00
Reserve Fund (1-3 Months Mortgage) $3,000.00
Total $13,000.00

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Purchase a second rental property
Career & Finance: Investing

Why do you want to do this?

I want to do this to be able to start my own business, to shelter my income from government taxes, and to be able to provide for my family (in the future)

What three things will you need to make this happen?

A down payment

Finding reliable/long term tenants

Being able to use the equity in the home as leverage for another purchase

What is the biggest barrier to your achieving this?

The overhead required to place a down payment on a home. Real estate is said to be a relatively low risk investment but it requires a major investment the first time you do it.

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