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Multi-Family and Apartment Investing

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Austin Richey
  • Real Estate Investor
  • Hollywood, FL
4
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21
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Taking Chances, Aspiring to own first multifamily

Austin Richey
  • Real Estate Investor
  • Hollywood, FL
Posted May 11 2014, 11:32

Hi Biggerpockets, I'm 21 years old (Total noob to biggerpockets and RE) working as a maintenance man at a Mobile Home Company in the Southern Suburbs of Illinois. I just recently got introduced to real estate by watching a guy on the internet named Jay Morrison. He introduced the idea of getting a duplex, renting the other half out and living for free on the other side. He also mentioned having to put 3.5% downpayment on a home with an Mortage insurance premium of 1.75% upfront. I'm looking to either get my first home in Georgia, Florida, or even here in good ole Illinois. I'm also looking to own 4 properties total by the time I turn 25. If i'm missing some information on understanding an FHA loan please help me out. However I do have a few questions for my fellow biggerpockets community.

1. What books would you suggest to me on getting started on my multifamily foundation?

2. What prices should I be looking for when it's come to my first home?

3. What are good websites to look for homes with FHA Loans?

4. Any places in GA, IL, or FL you would suggest investing in?

5. Any other information you could possibly think of to give a young aspiring investor as myself?

Thank you in advance with all of your respones. Take all feedback into consideration only looking to better myself.

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