Originally from California, I moved to Spokane almost 2 years ago after completing my business degree at Northern Arizona University. I love living in Spokane and have a great job that I enjoy waking up for every morning. Real estate has always piqued my interest, but I've never thought of it as anything more than that. I stumbled across BP recently and was absolutely blown away by the content shared and the transparency shown by all of the members. I've spent the past months consuming as much knowledge as possible in preparation for my first deal. I know that there is still a world of information for me to take in, but I want to take action!
My girlfriend and I are currently renting a small apartment and before I found BP, the plan was to find a 2x1 home to rent. Instead of throwing away $1,000+/month, I see this as a great opportunity to start my investment portfolio.
What I'm looking for: A single family home. Looking to use a FHA 203k loan to purchase and renovate a home below market value. I plan to live in the home until it's eligible for refinance, then hunt for deal #2 (unless I can creatively finance something sooner).
The BRRRR strategy interests me quite a bit and in this scenario, although I'm not renting it out immediately, it shares a lot of the same elements and can provide me with exposure to much of the process.
I am looking for recommendations from local investors for agents, consultants, and contractors who have experience with 203k loans. From everything that I've read, there can be a significant amount of hoops to jump through and it makes the process much more efficient if you have a team who has experience working with the FHA on these type of deals.
Any thoughts are appreciated. I'm also excited to join some local clubs and connect with others who are in similar positions! I'm here to learn, seek advice and create lasting relationships.
Thanks in advance,
@Sean Bozigian , Welcome to Bigger Pockets! I don't have specific 203k experience, but am always happy to help when I can. There are a couple local REI's I recommend attending - if you need details, PM me.
@David Clinton III thanks for your response. PM sent!
@Sean Bozigian Hey Sean! Welcome to Bigger Pockets! BP is one of the best online real estate investment websites. Not only does BP have free informative forums for you to learn and comment on, it also has free online courses, guides, and success stories from other real estate investors! You have come to the right place and I wish you all the best!
Welcome to the BP Community, @Sean Bozigian ! We are so glad you have joined us.
I'm a big advocate of the BP Podcasts. All are jam packed with useful information as you continue on your investing journey. I encourage you to check some out!!
We are all here to help each other grow and learn! I look forward to hearing more from you on future forums.
Great head on your shoulders @Sean Bozigian , be very creative in this game. You will find ways to make things happen.
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