Updated over 12 years ago on . Most recent reply
What to do?
Hello everyone, Newbie here. I've lurked a bit and figured I would ask everyones take on this.
I have always wanted to get into real estate. I am finally in a position that can make it work. I have perfect credit and about $12K saved.
I was pre approved for an FHA loan and my loan officer was awesome. He suggested that I should buy a fourplex, live in it for 6 months (loan requirement) then downsize to a triplex (another FHA loan) and then finally into a duplex.
He says as long as I downsize each step and live at the address for 6 months I should continue to get FHA loans.
I'm curious what more experienced people in the real estate community think?