Ask Paula: How Can I Get a Downpayment for a Rental Property?

<p>#135: Time to talk about houses! I answer your questions about rental property investing in this week's episode.</p> <p>Our first question comes from James, age 25. He lives in Florida, where he bought a $130,000, 3-bedroom, 2-bath condominium in the Class B range as his primary residence. He'd like to buy a second home and rent out his current home.</p> <p>He has $4,000 in cash and is eligible to take out $5,000 as a home equity line of credit. He makes $41,000 per year, after taxes. He'd like to buy one property a year.</p> <p>What funding options can he...