Financing STR Same neighborhood as current property
Obviously the location of a property doesn’t impact the down payment/financing but there is a property 2 doors down from the property my wife and I just purchased and started renting April 1. We are killing it this month with 0 reviews to start. I know we just bought it but I see huge upside/potential.
I would like to buy the other one for sale but the 50k down payment would not be super practical right now as I just shelled out $50k down payment for the next be I just bought. The property for sale is overpriced (they bought it for $175k last year and want $183k for it. I’m sure they have a mortgage so I can’t get it for say $160 for example. Any ideas?