Updated almost 8 years ago on . Most recent reply
First Time Home Buyer Looking to Flip: Best Loan Option?
Hi there, I'm new to BiggerPockets but have been looking to get started in real estate for some time now. My question is regarding the best financing options for someone in my position.
Having never bought a home before and with roughly 30k to put down, would it be wisest to use a first-time home buyer's loan? I want to flip in less than a year (ideally 2-3 months) however my understanding is that a first time home buyer's loan would not be conducive for this. Does hard money sound like the only option for my situation?
In the medium-long term I would like to flip for the next couple years and eventually build a multifamily portfolio that brings cashflow if this makes any difference. I would love to hear any advice you might have, or other suggestions on books or resources . Thanks for your time.