Updated over 6 years ago on . Most recent reply
First Investment FHA/House Hack/Conventional
Ok so Im self employed (own a car dealership) for tax purposes Im not showing that much income (35K) or so. I have about 15K to put down on my first property was planning on using FHA for a multi family and house hacking but not sure if i can get approved for a large enough mortgage with my low income. Also there is local real estate company here who sells rehabbed sfh tht come with property managers and tenants already in place that are cash flowing like 200 a month already. They have one available for 70k available and i can afford that one with a conventional loan i just dont know if ill be able to get approved for that one while im on my original fha loan with the multi family. Im juat wondering should i go my multi family route or buy one of these turn key rentals or do both use the fha for the multi then put the 20% down on thw turn key. Any advice would be greatly appreciated