Fork in the road!
Hey guys. So I'm just beginning my journey to prosperity. Being a newbie I often find myself faced with hard decisions. BP has helped me a lot and I thank eveyone who has offered their insight. I have another dilemma on my hands and I'm hoping to get a little help.
I was to qualify for a FHA loan and I am a little torn as to how to use it. My initial plan is to purchase a duplex and rent one side and live in the other. I'm aware that with an FHA loan I'll be expected to live there for a minimum of one year. I've found a couple of potential properties and the number make good since.
another option, and I may be of track with this one, is to use the loan to purchase a home to filp. I know many investors like to flip first to fund buy and holds, but I actually planned to build my cash flow to a certain level before I got into flipping.
I'm hoping some vets could give me a little advice as to which direction would have the best chance of long term, sustainable success. Given that I work hard, am very attentive and learn quickly. I know everyones situation is different. I am just lookin for general advice. Thanks for reading. I know it's rather long.