Multi Family

[Cori Barnes]

Hi, I'm new on here and I want to invest in a Multi family house. In Muncie there is a lot of these kinds of houses. I've found some that I'm interested in and I know I'm going to use the FHA route to buy one, I'm just not really sure how to start the process. Do I need to get approved for the loan first then find an agent? I have the paperwork available, I just want everything to be in order to have a smooth process! Please let me know what I need to do..

[Nicole Jones]

As far as I know you can go either route- get financing first then agent, or agent first and they can refer you to a broker. I own 2 duplexes. I think in order to qualify for FHA financing you have to live in the property. Is that your plan? If so this is a great way to live mortgage/rent free :) It's what I have been doing and I love it. I prefer multi-family units because of their multiple income streams. Good Luck!