All Forum Posts by: Marvin Byrne

Hi Nathan. 

It has been confirmed by my lender two years is the allotted time period before being able to purchase. I was approved at $250,000 with a total out of pocket cost of give or take $13000 

I will also being going through the NACA homebuyer workshop to see my available options through them.

With that said LA is an expensive market so I have also being looking at properties in Oklahoma for a 20% down on $60,000 property. 

Good afternoon everybody! Please give me tips, ideas, insight, a reality check.

I am 26 years old looking to purchase my first property. Unfortunately, I went through a chapter 7 bankruptcy that will be reaching its two-year mark on June 3rd. I watched many videos, listen to many podcasts, including that of bigger pockets, Jullien Gordon, and many others, as well as read several books. 

I want to purchase a triplex with a naca loan. I will have $10,000 saved by June and want to purchase in LA. I am curious if:

1. this is actually feasible

2. if I should purchase in LA?

3. Or perhaps purchase a single-family home in another state where I may need a little more in down payment but start my passive income portfolio.

I appreciate any and all advice as well as a reality check on what is and isn't feasible at the moment.