New member from Phoenix Arizona

[Sekyu Kim]

Hello All,

I've been listening to the podcasts and reading the blogs and forum posts for a few months and finally decided to introduce myself.

My name is Sekyu, I am an engineer currently living Phoenix AZ, looking to begin investing in real estate hoping to build cash flow and long term wealth. I have been in talks with a coworker about a partnership and I am looking to learn from and meet others in the area.

My family of 3 recently grew to 4, and I am considering purchasing a multifamily with an FHA loan to house hack for a year while building equity and saving for a down payment on an investment property. I am in the process of trying to figure out a lender- wondering if going with an FHA loan, the lender you choose actually matters or not. I have started analyzing properties with a spreadsheet I've created based on methods I've learned while reading the forums and listening to the podcasts in the mean time.

Thank you all for reading!

-Sekyu

[Ryan Swan]

@Sekyu Kim Welcome to BiggerPockets, and thanks for introducing yourself!

I personally believe your strategy to live in a multifamily property using FHA financing is THE best way for investors to get started. It's the most straightforward way to purchase a property, using very little out of pocket funds (low down payment FHA), and you'll never get cheaper money than the rates on a primary residence loan. I actually helped an investor client purchase a 4-plex this spring using this same strategy and it's been very profitable for him.

To answer your question about lenders and an FHA loan....some lenders specialize in FHA more than others, but they all should be able to work with you. Financing a 2-4 unit property isn't much difference than a single family home either. The big difference between all lenders is the fees they charge to originate your loan, so that's one area where you can shop around and save.

Feel free to reach out if you have any questions or want further advice!