buying property in las vegas when i live in california

[Kevin Dehesa]

Hey all, I am a first time home buyer here  in California, I am interested in multifamily properties and single family residences in las vegas.  i have a couple of questions regarding the process.. 

 what state do I get the loan from?

do I have to live in one of the units of the multi family property? do I have to live in the single family residence for a certain period of time before I can start renting it out?

would multifamily or a single residence be better for me if im doing this by myself?

any other information is greatky appreciated!

[Robert Rayford]

@Kevin Dehesa, The family member would have to qualify for the loan. Not only is this mortgage fraud it is also a very risky venture. The multi market in Vegas is highly competitive. There are D and F class units in the 89101, 89121,89106, 89156, 89110, 89115 areas that still are reachable. These have high turnover rates. If you are in the market for A,B and C market locations then a FHA loan won't cut it. These areas are full of cash buyers at $375K and up. Your edge would be to network with the local unit movers and hook a deal that way. I have a great well connected R.E Agent and active wholesaler in the Valley, let me know if you need a referral.