Updated about 9 years ago on . Most recent reply
New Investor from Utah
Hello!
My name is Thomas, I live in centerville Utah. I've always been intrigued in real estate... but I've never done anything about it. I'm currently getting my masters in finance, and I currently live with my parents.
I took a real estate class, where honestly I didn't learn a ton when it comes to investing (I can calculate cap rates and understand corner lots sell more then middle lots... haha. And other mediocre stuff...)
My professor told me, since I am single... I should buy a quad plex, live in one unit, and the other units out. I can use an FHA loan to maximize my leverage.
Any suggestions on where to start or how to start would be grateful! I'm definitely new.
Most Popular Reply
Your professor is a smart man. You can buy a multi unit and live in one for a year, and move onto something else after that. Doing an owner occupy with 5% down is a great move. You can do it with an FHA loan, but the Mortgage insurance carries for the life of the loan.