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Starting Out
HomeForumsStarting OutMultifamily In Brooklyn
Michelle Backer's profile image
Michelle Backer's profile image
Michelle Backer
  • Rental Property Investor
  • from Brooklyn, NY
  • Member since May 31, 2019
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Michelle Backer's profile image
Michelle Backer's profile image
Michelle Backer
  • Rental Property Investor
  • from Brooklyn, NY
  • Member since May 31, 2019
Connect
Michelle Backer
  • Rental Property Investor
  • Brooklyn, NY
42
Votes |
53
Posts
Starting Out

Multifamily In Brooklyn

Michelle Backer
  • Rental Property Investor
  • Brooklyn, NY
Posted Jun 23 2019, 19:15

My first time buying property ..

I live in a beautiful Brooklyn area .. I rent.

I want to buy land with an FHA loan or some loan that is 3% down in Brooklyn. I want to pay off the mortgage with tenants. I was born / raised in nyc so I know Brooklyn extremely well

Condo looks so complicated plus fha approved are hard to come by. Can anyone give tips as to whether or not a multifamily is a good idea for someone in my position, someone looking to invest?

If not now should I wait a couple years? Many knowledgeable people have predicted a recession by 2020.

Thanks!

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