All Forum Posts by: Andre Crabb

Hi Luke,

Welcome to BP! I'm in about the same boat as you, choosing from all of the US in where to start. Some of those cities you mentioned are likely still good to be in, but also check out the midwest: Cleveland, Detroit, Pittsburgh, Cincinnati, etc. Its cheaper out there, though you may or may not like living there ;) 

Good luck with your search!

Hey @Austin Everett, what neighborhood is the property? is this typical of the tenant base there?

Hi Fed, where can we find more info on this deal?

Got it, thanks @Stephanie P.!

That's a great point @Stephanie P..

Is it possible to use the FHA loan after I've started investing? Let's say I purchase a non-owner-occupied SFH home as an investment, and this is my first house purchase. Will I still be eligible for an FHA loan when I do decide to owner-occupy?

Cheers.

Which PM company was this?

Thanks for the info everyone! Sounds like the house hack might not be as beneficial to me as I assumed. Though it could be worth looking into for a point off the interest and maybe 5% off the down payment.

Cheers.

Thanks for all the comments guys.

The main reason I'm asking is because I may not want to live where there are MFHs with numbers that make sense. I don't need the low down payment, but it would be nice for reasons you mentioned @Zachary LaJoye. So for now maybe it makes more sense to just start with investment properties and rent in a place I'd enjoy living.

@Andrew B. Because I could still rent somewhere else for $1000 and get paid the $1000 from the unit which essentially cancel each other out. So buy buying without FHA I could skip living in it for a year and going straight to "Boom...instant investment property."

Right?

The other comments are about low down payments. Clearly one big benefit is FHA allows MFH properties which allows people to get into investing with low money down. But if that's not what I'm looking for then house-hacking doesn't necessarily seem like the best move.