Ready to jump in on my first REI

[Marty L.]

Hello BP, 

My investing partner and I are meeting with a real estate agent and Mortgage banker soon. We are ready to jump into REI's, but want to make sure we start with our right foot. We are not sure whether to start with a FHA loan and buy a Duplex, triplex or Quad. Or start with a Single home family? What question should we ask? Should we get pre-qualified first? Any suggestions? Any advise would be helpful. Thanks!

[John Weir]

I would recommend getting prequalified so you know where you stand on price range of homes to look for. Also your agent will probably prefer it. I would start with a MFH, it offers the most room to make money, but they seem to be harder and harder to find. Ask for rental comps in the area you're looking at. I also like to see if property is currently occupied and for how long, that way you immediately have money coming in. Good luck!