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Multi-Family and Apartment Investing

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Zac Gorski
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  • New to Real Estate
  • Pittsburgh
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FHA AND Commercial loan at same time??

Zac Gorski
Pro Member
  • New to Real Estate
  • Pittsburgh
Posted Apr 30 2024, 19:59

Hey All! đź‘‹ Hoping to get my first deal soon 

Looking for first one to be FHA / FHA 203k.

Would be Owner / Occupied in one of a triplex or fourplex. 

Also wondering if I can get a second loan (Commerical) looking to go bigger with a 5+ unit building using the 75% of profit from first one. 

What hurdles should I expect?  

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Zac Gorski
Pro Member
  • New to Real Estate
  • Pittsburgh
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Zac Gorski
Pro Member
  • New to Real Estate
  • Pittsburgh
Replied Apr 30 2024, 20:02

I have a W2!

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Matt Devincenzo
  • Investor
  • Clairemont, CA
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Matt Devincenzo
  • Investor
  • Clairemont, CA
Replied Apr 30 2024, 20:12

What 75% of profit are you talking about? How much cash do you have for a down payment and how much of a purchase are you thinking of making?

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User Stats

4
Posts
2
Votes
Zac Gorski
Pro Member
  • New to Real Estate
  • Pittsburgh
2
Votes |
4
Posts
Zac Gorski
Pro Member
  • New to Real Estate
  • Pittsburgh
Replied May 1 2024, 05:58

Hi Matt! 

So, as the first property would be a triplex or fourplex, I was in the understanding that I could use 75% of the income coming from that initial owner occupied purchase towards my debt to income ratio going into the next purchase.  

Also since the first purchase would be FHA (3.5%), I would still have money saved for the down payment on the next, probably in the range of around 50k, also could get a partner for the second, though since this will be my first two purchases, I'm leary about adding a partner already into the mix.