So here is my plan so far have $180,000 looking to invest it on a house.
I’m looking to buy this house then rent it out n Palmdale – Lancaster area. (CA)
Houses their range from 300k to 500k ( there are also ready to build houses around 497k) which I’m ok with these prices.
I’m thinking of putting the whole amount 180,000k on the house
This will leave me with a low down payment roughly around 1,800. ( All of this includes tax and insurance of the house).
Now I’m looking to rent this house out.
So here where you guys can help me with some advice.
Is this a good way to go? Or not ?
Should I put the whole amount 180k on the house
Should I rent it out at a higher price then what I will be paying ever month
Should I do lease instead of renting
Should I get a lawyer to write me a contract incase the renters damage anything ( Can I do that)
Should the renters put a down payment incase they damage anything (Can I do that)
any advice from you guys would be great.
I am new to this property investment so any feedbacks will help.
Thank you and good luck guys !