Decisions... 203k Loan or something else?

[Simon Aristizabal]

Hello everyone,

I just joined BP over a week ago, I really find it very very useful, there are tons of information here for everyone in the business of real estate. I have been considering becoming a real estate investor for a while now. I recently graduated from college and I have a job in my field as a software dev.

I have joined my local RE investors association. I have been meeting new people there little by little. I do tend to be a quiet person so it get a little challenging to meet new people. Though I know I have to change that to succeed in real estate.

I have been reading a lot about RE and the different methods to get involved in it. I have decided that what I want to do is buy and hold to generate passive cash flow to eventually in about 5 years become financially free to be able to become a full-time investor in real estate investing.

That being said, I found out about a FHA 203k loan that seem to be doable to start with given that I am not very experienced in RE and unfortunately I do not have the money to start investing yet. I am starting to read about how to buy houses with low or no money down. But I am still not decided where to begin and if it is a good idea to start with the 203k loan plan.

My plan was to get a multi-plex property where I could live in and rent the rest, which would allow me to save money to start investing elsewhere and gain knowledge about managing properties and potentially obtaining cash flow.

My question is, would it be a good idea to start the business with that plan 203k?

Any recommendations on how to start if it is not a very good idea to start with the 203k plan?

On the other hand, if it is a good idea, any suggestions or things I should be aware of?

Thank you so much for taking the time to read my post!