Updated over 5 years ago on . Most recent reply
First Investment (New to BP)
Goodmorning Everyone, my name is Rodrigo Cazares. I live in Fresno, CA. I don't have any experience with investing in real estate. Any ways I found a four plex for sale listed at 280k, and to rehab it would be around 60k. My plan is to house hack and apply for an FHA LOAN. I would really appreciate help or advice. I have been afraid to take risk in the past, but feel ready to take a Greater step.
Most Popular Reply
@Rodrigo Cazares Ornelas
Hey! Welcome to BP. I’m sure one of the more experienced investors will give some advice. But as for me I have a few questions:
1.) What is the ARV?
2.) What do rents look like in the area where the house is?
3.) How did you come up with that rehab budget number? Is based off an agent telling you that, local investor, or just by looking at the pictures of the home?
4.) Are you going to be using the 203k FHA loan?
These are some details that will be helpful for others to give you advice towards your specific scenario!