Updated almost 3 years ago on . Most recent reply
Buying Multi Family
Looking to buy multi family around Irving, Texas for 75% arv as well as i can force some equity and fix it to flip/ rent. Also, if there is meet up groups locally in DFW, I want to come and listen to experienced folks.
Thank you.
Most Popular Reply
Anup, I would suggest looking into the multi-family sector. The more units you obtain the more cash flow will be generated. If you have not invested before look into a FHA loan or a 203k loan. The difference between the FHA and 203k loan requires you to establish residency for one year. The 203k loan allows to you flip a property with a low interest rate. There is a seasoning period on a FHA loan but once you live in the property for one year you can refinance. Make sure the lender has a 70% - 80% LTV. This is how I am getting started. Hope this helps. Good luck!