All Forum Posts by: Whitney Woodburn

@Darren Kresge That is definitely good news. To qualify for the FHA loan, we were planning on renting one unit in the multi-family home and leaving the other vacant that first year as his primary residence. A renovation mortgage certainly is an option we're interested in. I think the idea of a conventional loan would be a better option for us, because then both units can be rented while he's in Illinois. We're still doing our homework. I so appreciate your feedback and would love to discuss more!

@Derrick H. Thanks, I'll certainly look into this option, I haven't heard of this. Thank you!

@Zack Tran Thanks, yes it would be a great deal. I wouldn't want to push it though so I'll certainly look into other options. Thank you for your feedback!

I am currently in the process of searching for my first property in Buffalo, NY and intend to use the house hacking+BRRR method on my first real estate investment. My boyfriend is also interested in purchasing an investment property here, however he works as a travelling engineer, and is currently stationed in Illinois (he rents an apartment, hotel room, or AirBnB as he travels). We are VERY new to the real estate investment game. We want to take advantage of the FHA opportunity for first time home-buyers, but do not know if it is required that you live in the same state that you work in. Can he rent an apartment in Illinois and own a property in NY using this loan option? If not, are there any other options available that have low down payment requirements such as this one?