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6
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2
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Vic Medina
Pro Member
  • Carmel, NY
2
Votes |
6
Posts

JC House-Hack Guidance

Vic Medina
Pro Member
  • Carmel, NY
Posted

Hey all,

Looking to FHA 203K a duplex / triplex in the JC area. Question is - is that the appropriate financing lever, or should I get a conventional FHA as it would be my first purchase?

The other units rents would be the only way to qualify at the $700-$800k range and then force appreciation with modernizing one of these aging properties.


If some of you think now is an awful time to do this (re: interest rates) I'm open to being told to wait as well. Also thinking of buying a single family and then flipping it to a developer to tear down and build new multi-family that seems to be going up everywhere.

Any advice is appreciated!

Signed,

Slightly frustrated aspirational RE investor

  • Vic Medina