Hello, I'm interested in purchasing my first investment property. I'm curious on the matter of the options I have to purchase it. Should I use fha or other conventional loan? Also, how many times can use Fha to buy property. I appreciate any inputs.
Do you plan to live in the home? It really depends on what type of property you're looking at. If you buy a 2-4 unit home with owner occupant financing and live in one of the units, you have different options than a straight investment property where you will likely have to put 20-25% down. Give us some more details on the options you're considering and I'm sure you will get some great help from the experts here in the forums.
I'm looking at multi family with atleast 3-4 units. My goals is invest in multiple property in the near future and that is why I'm looking for a solid way to build upon it.
@Leo Don - since you plan to live in the property, FHA can be a good option for a very low down payment, which will allow you to have more cash for another property sooner. If you are a veteran, you could potentially also try a VA loan. Otherwise, expect to put down 10-20%.
Well I'm looking for investment opportunity for hold and rent. Im debating on if I should live in it or strictly rent all units out. Also, the fha route, how many times can I use it to purchase investment properties. Please let me know if you are aware of other method to aquire investment properties. Thanks for your inputs.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!