What should my brother's first property be?
My little brother is pre approved for 140k FHA loan. He's looking for an investment. He makes decent money and travels for work a lot. He's not looking to stay in the corporate world forever so he's looking to buy as many properties now while financing is cheap and he can actually get it. I think he should buy a multifamily preferably triplex or four-plex if possible with a FHA. In a year buy a duplex or single family with conventional (unless he has the money for 15% down on a tri or four-plex). He has student loans which he should have paid off in 5yrs (he puts a lot towards them monthly). At this point he's not looking to be a full time investor, but understands how powerful some rental property can be.
Agree with my ideas? Have others?