My first home and future investment property.

3 Replies

Hello, everyone. newbie here. I'm a very low income guy (make $25k a year) and I want to buy my first property. I'm looking for properties around 60k to 80k. I'm planning to go with USDA or FHA. I have good credit upper 700s, and after I buy my property, I'm planning live in the property with a couple of friend roommates that I can charge rent. After a year or two, I would like to make it into a rental property, so I'm trying to get in the door with my situation. I live in Florida. Another thing, since I want it as a future rental property, I want it to be close by a city where the chances are greater for rental, but once again that's kinda hard with my situation. Any suggestions?
Originally posted by @Rafael Suriel :
Hello, everyone. newbie here. I'm a very low income guy (make $25k a year) and I want to buy my first property. I'm looking for properties around 60k to 80k. I'm planning to go with USDA or FHA. I have good credit upper 700s, and after I buy my property, I'm planning live in the property with a couple of friend roommates that I can charge rent. After a year or two, I would like to make it into a rental property, so I'm trying to get in the door with my situation. I live in Florida. Another thing, since I want it as a future rental property, I want it to be close by a city where the chances are greater for rental, but once again that's kinda hard with my situation. Any suggestions?

 I think you might be in the wrong forum? Maybe admin can move this post to the proper forum.

Hi @Rafael Suriel I would suggest you speak with a local lender. He or she will be able to qualify you for a mortgage and go over basic guidelines. Once you figure a price range and have an idea of how much you’ll need to put down and have at closing you will be able to get a good idea of your limitations.

thank you sir.

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