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Hello Bigger Pockets Community My name is Mike Martinez. I am from the rio grande valley or south texas area. My current investment plan is to purchase a small multi family and finance it through a FHA loan. I am open to any tips to get started. Also looking to see if there is any other investors from the RGV area.

Originally posted by @Mike Martinez :

Hello Bigger Pockets Community My name is Mike Martinez. I am from the rio grande valley or south texas area. My current investment plan is to purchase a small multi family and finance it through a FHA loan. I am open to any tips to get started. Also looking to see if there is any other investors from the RGV area.

Mike, great to have you!

Hey Mike!
I'm from Mission and invest in Mission, Edinburg and McAllen. If you plan to house hack you should definetely go for a fourplex to make the most out of the FHA loan. It can get a little complicated because you are going to have to buy a fourplex with one empty unit or kick out a tenant that is on a month to month lease. Luckily for you the valley has A LOT of fourplexes and month to month leases are very common.

1st go talk to a bank and get a prequalification letter. This way you know how much you can afford.
Then find a realtor to help you. Preferably one that ivests and can help guide you and lastly start making offers until you get one accepted!

If you haven't done any of this you should at least be looking at properties on zillow or redfin. Set up a seach for multifamily properties. This way you can begin familiarizing yourself with the market.

Good Luck!

@Mike Martinez Welcome to bp. Great advice on here so far such as networking with other investors, lenders, agents, etc, and always be networking going forward. Our bp McAllen meetups are a great place to start. Also, familiarize yourself with the market you want to invest in and start analyzing deals so you can pounce when you see a good deal. Keep learning, keep asking questions, keep setting goals, and keep taking action. Best of luck!

Welcome to the BiggerPockets forums @Mike Martinez !  I just came back from a trip down to the RGV area and it is exciting to see all that SpaceX is doing down there.  Thanks for sharing your goal and good luck! 

Thank you for the response @Polo Vazquez it helped provide the clarity I needed since I was unsure on what steps to take next. I will definitely consider what you told me as my next course of action. I currently don’t have an agent so of course I’m limited on options, but I’ve kept update of a few four plexes I’ve seen on sale on Redfin and Zillow. Are there any agents you know of locally?

@Mike Martinez My pleasure. I don't know yet when the next meet-up will be, but I'll let you know when I find out. Please feel free to connect. 

Updated 5 months ago

BiggerPockets McAllen Meet-Up will be Tuesday April 27th @ 7:00 p.m. at Brewsome Brewery on 10th St

@Mike Martinez The valley is great. Take your pick. Several of us agents in the area. If you are looking in Brownsville, I know of a couple. I as well as several others focus in the mid to upper RGV. Do your research, feel free to ask agents questions. We all have the same goal in mind. I am trying to do the same in the next several months with an FHA 4plex. Feel free to DM.

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