3.5% Down For First Property Good Idea?

[Kyle Parcell]

Is it a good strategy to get an FHA loan for your first property and put down the minimum 3.5% down payment just to get into the property? Or should I wait longer and save more of a larger down payment (5,10,20%)?

I plan to live in my first property for 5-7 years.

[Eric James]

Good idea.....just make it a multifamily, 2-4 units. And of course make sure the cashflow etc will be good.