All Forum Posts by: Kyle Marsh

Hello,

Is using FHA loans or other low income/low downpayment loans as an investment strategy unethical? I spoke to a number of different lenders about my options to acquire financing as a college student, and a few times when I've mention looking into using an FHA loan or other FTHB loans to purchase a rental property, I am told that those loans are designed to help those who cannot necessarily afford a conventional loan and should not be used to "build a real estate empire." To clarify, I live in a relatively expensive market and I would plan to use an FHA loan to live in a single family for a year then rent it out after and refinance when I have the money when I graduate. From what it seems from the books and podcasts I've learned from, FHA loans are a popular method to invest in real estate for owner occupied properties. By using an FHA loan to purchase my first property and refinance when I graduate, am I unethically "bending the rules" to accelerate my wealth growth? Are there any rules against this? Should I approach lenders differently? I appreciate any input. Thank you.

 Thank you yeah that seems like the best way to use it. I'm in the process of deciding whether I want to invest in Amherst (where I go to school) or possibly in the Brockton/Attleboro/Taunton markets (I'm from Easton). 

Can you use a MassHousing loan to finance a rental property for a single family home? The Masshousing loans in Massachusetts seem to have some great benefits for first time homebuyers but has anyone used one to finance a rental property? If so, is there any restriction on how long you need to live in the property before renting it out? For example with an FHA loan you need to occupy the residence for at least one year before you can rent it out. I looked all over the website but I didn't see anything.

Do you know if there is any limitation on how long you need to live in the property with a MassHousing loan before renting it out? Like with an FHA loan you have to live in the property for at least one year before you can rent it out.

What is the event called? I didn't see it in the events tab.

Hello,

I was wondering if anyone had any unique ideas for qualifying for loans with little income? I am a college student who's been working the past several years, has sufficient money for a downpayment and reserves, and has great credit. However, being a college student I work a minimum wage job, which will most likely not qualify me for a loan. I am hoping to apply for an FHA loan in the next six months to invest in a rental property.

Ideally, I'd like to take on the loan myself without cosigning with a family member. Is there anyway I can do this, or is my only option to cosign with someone who has significantly higher income than I do?  If you have any suggestions, I'd love to hear your input. Thank you!

 Someone recommended the "Meetup" app as well. If you say you have an interest in real estate investing it will refer you to a bunch of groups nearby.

I'll definitely check that out, thank you. 

Hello,

I'm relatively new to real estate and I was wondering if there are any clubs where I can learn more and network in Massachusetts? I'm from the south shore area but I'm sure a lot of meetings are held online now anyways. If you have any suggestions I'd be interesting in checking them out. Thank you!

I will definitely take that advice into consideration if I do end up investing there. Renting to college students seems like a different variation of the game. Thank you and I appreciate the feedback!