All Forum Posts by: Nomal Samaraweera
Nomal Samaraweera has started 1 posts and replied 2 times.
Post: First-Time House Hack – Looking for Advice on 3–4 Unit Purchase in Houston
- Posts 2
- Votes 4
Quote from @Abel Curiel:
Quote from @Nomal Samaraweera:
Hello folks,
My goal is to purchase my first rental property, ideally a 3–4 unit multifamily. Given today's rates and prices, I realize an FHA loan with 3.5% down may not be realistic, so I've been exploring the Home Possible loan option instead.
I’ll be buying in the Houston area and I’m also considering Airbnbing the units I don’t occupy.
Does anyone here have experience with this, or recommendations on what I should be looking into before moving forward? I’ve been doing my own due diligence, but any advice or resources for further education would be greatly appreciated!
Thanks in advance.
I like the strategy here. In addition to researching Home Possible, I'd recommend you begin speaking with anyone in your personal circle regarding Real Estate investing.
You will be surprised how many friends, family members, co-workers, neighbors, etc. are either already investing in RE or looking to invest in the near future. If down payment is an issue for you, private money or partnership may be other options to entertain.
Lastly, to get a good grasp on the Houston multi-family market, I'd recommend connecting with local agents and lenders.
All the best!
Abel
Appreciate the response, Abel! I've spoken around and got some advice, but I also wanted to expand my network, hence why I wanted to find a community here.
Yes sir, currently reaching out to agents and lenders. Thanks for the call out.
Post: First-Time House Hack – Looking for Advice on 3–4 Unit Purchase in Houston
- Posts 2
- Votes 4
Hello folks,
My goal is to purchase my first rental property, ideally a 3–4 unit multifamily. Given today's rates and prices, I realize an FHA loan with 3.5% down may not be realistic, so I've been exploring the Home Possible loan option instead.
I’ll be buying in the Houston area and I’m also considering Airbnbing the units I don’t occupy.
Does anyone here have experience with this, or recommendations on what I should be looking into before moving forward? I’ve been doing my own due diligence, but any advice or resources for further education would be greatly appreciated!
Thanks in advance.