No Woman, No Cry - Current Interest Rates

[Juan David Maldonado]

I'm going the FHA house hack direction with real estate investing and have been pre approved. Live in it for one year then save up and purchase a second property somehow.

The current interest rates 6.9%-7% kill my numbers for an investment property because the mortgage payment already comes out to $1,300 a month with the big 4 included. If I add my cash flow it just pushes the amount up for a potential tenant to pay in rent. 

Not a lot of houses come my way on Zillow or my realtor that fit into my buy box requirements. I've become impatient and frustrated. What should I be doing or what can I be doing in the meantime?  Explore seller financing, find for sale by owner houses, etc 

Thank You!

[Peter Tverdov]

This might come off as mean, but try to earn more money so you do not need FHA. It's absolutely brutal to be an FHA buyer now. I don't envy you or your agent trying to help. Try to get enough downpayment so you can do conventional.

Also people were drawn in to thinking you can buy a rental with max leverage and cash flow like crazy, that was never normal. In the old days (before I was working) people usually had to put a much larger amount down and it seems we are going back to that for now.