Here's my take. I've owned about 5 houses and investment properties.
Interest rates are so low, use the banks money.
Keep your 20 percent in your pocket. Your 50k-80k house may need some work, and you want to pay cash to do that.
My first house, we did a first time homebuyer loan through the bank. We got grants for EVERYTHING, and I kid you not at close we walked from close with a CHECK for like $1200.
House was like 48k, we rented the upper and lived in the thing for five years for nothing.
Get your financing in order with a broker or a bank, no realtor will even talk to you unless you are qualified to buy the house.
Interest rates are so low, use the banks money.
Keep your 20 percent in your pocket. Your 50k-80k house may need some work, and you want to pay cash to do that.
My first house, we did a first time homebuyer loan through the bank. We got grants for EVERYTHING, and I kid you not at close we walked from close with a CHECK for like $1200.
House was like 48k, we rented the upper and lived in the thing for five years for nothing.
Get your financing in order with a broker or a bank, no realtor will even talk to you unless you are qualified to buy the house.