FHA Program Real Estate Investing in Boise Idaho

[Jonathon Nila]

Hi my name is Jonathon I live in Turlock California, I am looking to invest in purchasing a home through an FHA program for a first time home buyer program. But I want to rent out the property in Boise Idaho due to the low prices for the houses. My wife has family out In Idaho that gave me the idea to invest out of state. I have many questions due to me being brand new to the process. Anyone's opinions or advise would be greatly appreciated on how and where to even begin. I have been approved by a lender for 300,000 but I am concerned with the risk due to me being in California?

[Lydia S.]

@Jonathon Nila

Good morning! You will need to clarify details with your lenders but FHA and first time buyer loan products are typically owner-occupant loans, so may not be applicable in your plans.

You also mentioned contacting a Realtor in California- they should be able to help source out a Realtor in Boise to help with any purchase there.  Or else you just have your wife’s family in Idaho recommend one.

Best of luck to you!