All Forum Posts by: Isaac Trevino

Hello everyone, I need some advice. 

I'm a newlywed and planned to get a 4-plex as our first home. We'd live in one and rent the other 3. I was going to repeat this until I had like 10K a month in residual... I ended up buying a house for my wife and I. We LOVE it but it obviously changed things. 

I don't really want to have to put 100K down for my first 4-plex.

Has anyone heard of a strategy where you own a house and still buy 4-plex's with FHA? Like maybe assigning the house over to an LLC you own or something? And if I did that, do people come and check if you actually live in one of the units?

I have a property I hope someone can help me think through. 

4Plex 

255K Purchase Price

2,850 Gross Income

2,110 Payment including taxes and Insurance..

I want to live in one and rent the other 2. So gross would be like 2150 or so. Should I go for it? I'd almost live for free.. 

I'm putting down 3%