New to real estate investing and looking to diversify my investment portfolio. BiggerPockets has been a great resource for a plethora of information, but it's time to start taking some action. Where I'm open to suggestions and opinions of others who have much more experience than me in this market, I have seemingly found myself most interested in the "house hacking" concept of a multi-family unit (likely a fourplex). At this stage in my life, taking away my greatest expense and generating another income stream is very enticing.
I'm hoping to find an experienced investment-minded realtor/broker who would be willing to help guide and minimize the risk of potentially making some crucial mistakes at the beginning that may ruin or complicate the experience. For example, I'm already finding out that not all mortgage groups will do fourplexes for FHA loans by policy and not all are willing to include future revenue streams from the investment property in their calculations. Things like this is probably common knowledge for an experience investor.
Sam Rush welcome to BP! You have to find a lender who has less overlays on FHA loans. You can talk to different lenders and see who can handle your loan scenario with less overlays. Its lot of work but at least you will have right information before you will start investing.
Harjeet Bhatti, Lender in IL (#230554)
Thank you Harjeet for your comments. I'm still going through the process of finding the best lender for my current needs.
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