Dover, Delaware Real Estate Investor
Hi all,
My name is Tim Steward and I am making the move to the Dover, DE area this fall as I will be starting grad school at Wesley College. I would love to be able to begin my real estate investing career at the same time! Instead of renting an apartment I am hoping to buy a duplex that needs some TLC, fix it up and rent out the other half. After I finish school in two years I will either sell the property or hire a property manager and rent out both sections of the house. I plan on using an FHA loan to take advantage of the 3.5% down payment and possibly a 203k loan depending on the repairs needed. If anyone has any thoughts or suggestions regarding this strategy they are more than welcome! Also I have never even been to Delaware and have no idea about the area and the real estate market. I am visiting soon and will be starting my research but anyone who is familiar with the area that has any knowledge or contacts that could help would be much appreciated! Thanks!