JensynMcCoy
Member
Cash: $ 2.60
Posts: 10
Joined: 25 Aug 2011
Location: United States
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Rental property will require a higher interest rate, more down payment, and a different type of insurance. You should be able to get a loan easily with 50% down, and I suggest you do that so as not to put all your cash in one non-liquid asset.
You want to have 4-6 months expenses in an emergency fund, including the note on this property, in case of unemployment, medical issue, or vacancy of this property. Anything less than that would be poor planning.
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