Updated over 10 years ago on . Most recent reply
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?