If your plan is to buy in Kern County, which is a short 2 hour drive from Los Angeles, your budget may allow you to buy a small duplex or triplex without financing.  

Do you have financing lined up?  

This is separate from any recovery for violation of the property code, finance code, criminal code...Anyone contemplating this course of action should talk to an attorney licensed in your state first. 

@Kenneth McgeeYou're supposed to wait for the approval letter before starting your financing.

We can have guest speakers which will range from very basic theory / analyzing deals / SFR buy and hold to more advanced topics like flipping / multi units / creative financing / taxes / IRA etc.

Hey Everyone, I’m thinking about using a home equity line of credit or loan to finance a fix and flip.

I'm asking because a few years ago when I financed the purchase of a rental my loan broker told me there was one and that there will be one on any new loan/refinance on any residential investment property but it's not something I see mentioned on here or hear about in podcasts when closing costs are being discussed.

I'm working on the financing with my bank and I already have my eyes on a property. 

However, I have been wondering if I should get into the game sooner than later, attempting to find creative financing, or using a first time home owner FHA to lower my down payment. 

This same lender also told me that if I own multi-family rental properties and I try to get FHA financing for another multi-family to live in, they may deny me.