Updated over 10 years ago on . Most recent reply
Trying to think creatively looking for guidance.
I'm trying to get into real estate investing. I would like to start with purchasing my first home and I want and need to be creative. I am a landscaping contractor and have experience in just about every area of construction. I want to buy some land and put a few mobile homes on it while I use a portion for my construction business and rent a portion for horses to supplement my income. Unfortunately i am approved for only a FHA loan for approximately 150k so I am having problems finding property in my price range with an existing home, or even one with the utilities on it. From my limited knowledge I can not buy land with an FHA loan. Also if i did afford the loan for the land i wouldn't have the credit for the first mobile home/ installing the utilities on raw land.
I hope this made sense. Thank you for any and all input.