HUD Homes

[David Mares]

Hi everyone, 

I am a prospective RE investor from San Antonio and would like some feedback in regards to HUD homes and my first purchase as a homeowner. My wife is a school teacher and keeps mentioning the "discounted" mortgages that are offered to teachers, police officers and fireman as they require the homeowner to live in that home for 5 years and other requirements. I understand that. But I would much rather purchase our first home via an FHA loan that will allow us to occupy as our primary residence while making some fixes and preparing as a rental. I would then like to relocate my family to a HUD home after we fulfill our obligations and then take advantage of my wife's "discount" if you will. My main question is, have any of you ever executed this type of strategy to get started in REI?

Thanks!

[David Mares]

@Account Closed that was some great feedback, I was completely unaware of the rules possibly restricting those who own other properties, so I do appreciate the heads up. I'll be sure to double check before we commit.