All Forum Posts by: Mark Hall

I also make 50k to 60k a yr

I am looking over my options of financing. I have been focusing on FHA but the UFMIP scares me a little. I stumbled upon some reading that stated you can put 5% as a down payment, and the loan is not FHA insured. Does anyone have information on what criteria lenders are asking for in order to be approved? FYI I am in the Los Angeles area.

I currently have no debt

700+ credit score

Looking to purchase a multi-family home for around $400,000 to $350,000

I have no renters history

Thank you,

@Kimberly T. the main areas that I am looking in do not fall under the Los Angeles rent control area (i.e. Carson, Long Beach, Torrance, and el segundo). But in the case I run into property that does fall into the LA rent control area I will update myself on this information. Thank you

Hello all,

I am looking to invest in multi-family properties (2-4 units) in the Los Angeles Area in the near future. I intend on financing the purchase via FHA financing, and living in one of the units. I atleast would like a large portion, if not all, of my rent to be paid for by renting out the other units. I am looking for advice on the type of metrics that I should be looking for when looking at properties that are realistic and the best way to research these items?