Investor · Lake Bluff, IL · Member since 2020 · 7 posts · 3 votes
Hi all,
My fiancee and I are planning to move next year and start our real estate investing journey. We are currently living in Illinois and we know this is not where we want to start. We have stay at home jobs and are not tied down whatsoever to any specific location. Our plan is to get a multifamily property with a FHA loan, and move onto the BRRRR method. We don't want to start in any super expensive places, but want to be in an area that has a lot of future growth potential.
I hate to recommend more people come to the area, meaning more competition, but Northwest Arkansas is a great spot. Affordable housing prices, with relatively high rent prices. Low vacancy rates, and multiple fortune 500 companies in the area, always working to improve the area
Investor · Lake Bluff, IL · Member since 2020 · 7 posts · 3 votes
5y
@Will Fraser. Thanks for the input! Funny you say Puerto Rico as I had just watched a YouTube video about the benefits before seeing your response! Quite a leap, but definitely something to look into. I've been to Branson, MO many times in my life, so it's great to hear about NW Arkansas not being far away. I'll be checking it out! Thanks again
Investor · Lake Bluff, IL · Member since 2020 · 7 posts · 3 votes
5y
@Michael Ward Thanks for input as well! My fiancee and I are in no rush to find our place to be, so after we get married I'll get in contact with you if we will be in the area to learn more about NW Arkansas!
Real Estate Broker · Seattle, WA · Member since 2014 · 1k+ posts · 427 votes
5y
Welcome to BP. For FHA loan, you would need to owner occupy at least 1 of the units. Since you will be living there, you would want to consider not only from an investment perspective, but somewhere you would actually enjoy living in with your fiancee. Happy investing!