Help me start!

3 Replies

Hey all,

I just turned 21 years old and want to be an investor. I should be able to purchase my first property around april and i want to get it right. Should i do an FHA or conventional? Any advice would be greatly appreciated!

Originally posted by @Curt Davis :

If the home is to be an investment property from the start I dont believe you can get an FHA loan. That is only if you plan to live in the home as a primary.

 Hello Frankie and welcome to BP.

Like Curt said, FHA loans are meant for people to become homeowners, so I doubt you can get it unless you actually plan to live there for a period of time. Here is a link to FHA and HUD.

http://portal.hud.gov/hudportal/HUD?src=/buying/lo...

I didn't know your financial situation, and you didn't say if you want to flip or rent, all of which affects what the best type of loan is.  Give some more info and we can give some more specific advice.