Short Term Rental Riches 11. Is This the Cheapest AND Easiest Way to Get Started Investing?
Jan 28, 2020
Navigating the world of real estate investing can be overwhelming. Discover cost-effective strategies for diving into short-term rentals, particularly through multi-unit properties. Learn about the perks of FHA loans and maximizing your investment potential. The discussion also highlights why a budget-friendly choice doesn't always guarantee better outcomes. Plus, find out how discouragement can creep in when trying to scale your investments.
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Cheapest Way to Start Investing
- Buy a multi-unit property as your primary residence to leverage the cheapest entry into real estate investing.
- Use an FHA loan with as little as 3.5% down and get the best interest rates to maximize affordability.
Harness Guest Houses for Rental Units
- Look for properties with guest houses or separate units that can be converted into short-term rentals.
- A property with auxiliary units increases rental opportunities while using the same FHA financing benefits.
Primary Residence Eases Regulations
- Operating short-term rentals as your primary residence often faces fewer regulatory restrictions.
- Check local short-term rental laws to ensure primary residence advantage applies in your area.