Investor · stockton, CA · Member since 2014 · 34 posts · 3 votes
Hello BP,
I am a new investor with very limited funds to invest with. That being said, most fingers point to wholesaling for a starting spot for investors with low funds, but other investors says wholesaling is a horrible start for newer investors. so I was wondering if using a fha loan for my first investment is a good idea. If so , what sort of strategy should I be looking for? I've have been approved for $115,000 with two down payment assistance programs so all i need to bring to the table is .5%.
Investor · Chandler, AZ · Member since 2014 · 303 posts · 101 votes
11y
@Carlos Powell I'd recommend buying a SFR or small multifamily and house hack. Rent out rooms that you aren't using to build reserves and then use that cash to start a direct mail marketing campaign.
Investor · Chandler, AZ · Member since 2014 · 303 posts · 101 votes
11y
@Carlos Powell I'd recommend buying a SFR or small multifamily and house hack. Rent out rooms that you aren't using to build reserves and then use that cash to start a direct mail marketing campaign.
Your tenant screening process should be the same. Especially since you may be living with the tenant in the same house or right next to them, you want to ensure you choose quality tenants.