NEW TO HOUSE HACKING (First Time Buyer)
Hey everyone, I am planning on buying my first multi family property in the spring/summer time. I have already connected with a lender and plan on using an FHA loan. I'm getting real excited about starting my real estate portfolio but I do have a couple questions for experienced house hackers or real estate investor gurus:
1. How can I tell which property will generate positive cash flow?
2. After living in this property for a year, how can I get another loan for an another property? (What qualifications do I need? Good credit? Reduced loan amounts?)
3. Is it better to buy a remodeled property in a worn down area or a worm down property in a nice area?
Thanks to those who answer my questions in advance!