Updated over 12 years ago on . Most recent reply
First Time Buyer- Help Needed
I am new to real estate investing and learning a ton everyday. Currently I have been actively searching for a 2-4 unit building in the San Diego area that will double as my primary residence.
Currently I am preapproved for a 720k FHA loan with a minimum on 3.5% down. I am curious if it is common to find a property that will truly cashflow with so little down? Should I really be looking at properties that I can afford with 20% down?
Recently I have been to a handful of investing meetings and it is common thought that nothing good is found on the MLS. I understand this mentality for a flipper but what about a buy and hold property? I have considered purchasing a few lists from list source and seeing what I can do to generate some properties for myself.
I would love to hear your thoughts, input and advice.
Thank you!!
Amy