All Forum Posts by: John Michael Rico

So here is the scenario. I found a 4plex that I want to invest in. But I don't have enough cash for downpayment. So I am thinking to apply for FHA loan so I can use the 3.5% downpayment.

Right, now I am living with my parents and I can't leave them by themselves. I just pay a little amount for the rent of our apartment. So right now, I am thinking if it is possible to not really live in one of my unit. I will still go there once and a while but basically, I will not spend much of my time in there. 

By the way, I already analyzed the deal. And even if I only rent 3 units, I still cash flow every month.

At the end of 1 year, I will refinance the 4plex and rent the remaining one unit. Thanks for the comments guys. 

I really thought that there is no such thing as stupid question, but I think not all people think the same way. #respect

So rude. @Ben Leybovich

Thanks for your response! @Account Closed

Hi Guys! I am planning to buy a duplex using FHA loan so I can make a downpayment of 3.5%. Is it possible to keep the one unit vacant and not live in there? I just want to have the benefits of the low downpayment. (house hacking, los angeles, duplex)

Thanks @Doug Woodville. I will start looking for a contractor

I think its 4 units, 3000sq ft @Aaron K.

Thanks for the insight! I appreciate it.

Hi Everyone! I saw this deal that I can house hack but it is pretty distressed. There are few thing to fix: roof, plumbing, kitchen, painting, floor, foundation. Do you think 100k$ is enough?

I AM LOOKING FOR SOME DEALS AND I READ THIS IN THE DESCRIPTION. DO YOU KNOW WHAT THIS MEANS?

"THE IS A STANDARD SALE OF 50% OWNERSHIP TO BE SOLD TOGETHER WITH THE REMAINING 50% OWNERSHIP PROBATE SALE LISTING MLS#******** FOR SALE OF THE SAME PRICE TOO."

This is great! I will email you my email address. @Account Closed