My first deal

5 Replies

Hello my fellow BP members I am so EXCITED to announce that I was approved for my loan today!! I am going FHA and pursuing a 4 plex. I wanted to ask some basic questions, so I will be owner occupying 1 of the units and renting the other 3, but wanted to see if anyone else started this way and had any advice for me? Since I am a Realtor I get to put my 3% commission down towards the down payment and closing costs. I must say that I am pretty excited to begin my real estate investing, but feel nervous well. I have educated myself as much up to this point, but any insight would be much appreciated !

wow! Congratulations! very exciting.

I wonder if you play the "I'm just the manager, not the owner" card if you live there. Maybe someone will chime in on that aspect.

@Michael Delpier

 I have been thinking the same I asked on another post, but most told me just state you are the owner

@Phillip Gonzales

Going that route you can basically get in with very little out of pocket costs. You can't beat that. I am happy for you! 

Congratulations!! That's really exciting! I hope to be doing the same within the next year

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