creative ways to buy my 1st house??
Hello everyone,
My long term goal is to create wealth through real estate. I am getting my real estate license for many personal reasons. Eventually I am going to find properties that I can fix and flip and purchase rental properties for residual income. With that being said, I want to start my real estate path by purchasing my first home.
I am a w2 employee only making 33k a year. I realize, in the market I live in, I can possibly get an fha loan and move into a house. Yet, I don't believe I can afford let's say a 1k monthly mortgage payment. Are there any suggestions out there as far as getting an fha loan to purchase a duplex (through a real agent) rent out one of the units, house hack it, live in it through whatever time I need to according to fha, re-finance (pull money out the house assuming the property has appreciated) and then sell it? I believe I can't rent out the unit if I purchase the house through an fha loan, am I right or wrong on that? Let's have a creative discussion on how I can possibly purchase my first home!