Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Followed Discussions Followed Categories Followed People Followed Locations
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago on . Most recent reply

User Stats

4
Posts
0
Votes
Humberto D.
  • Houston, TX
0
Votes |
4
Posts

First Deal FHA loan

Humberto D.
  • Houston, TX
Posted

Hi all, this will be my first post but this is not the first time i've been here. I've browsed these forums for a while and have been listening to the podcast for a while too. 


I'm a fresh college graduate and have been working my first "real job" for a month as an engineer. I want to do some investing and here's my plan, please let me know what you guys think (and how much of an idiot I may seem like). 

I plan on doing all this working directly with my father who has his own company where his projects are mainly Flips, Buy and Holds, New Construction and Remodeling work for residential and commercial properties. 

I want to obtain an FHA Loan (I'm 21, have 70k salary, never owned a home/gotten a home loan) to build a duplex or triplex here in Texas. My father think's that we can do it because he has a good system already in place. I would just need the loan. Is it feasible? 

Basically I want to build it, live in one unit (house hacking), then eventually move out of the unit and continue renting all units and possibly sell it if the price is right and continue with similar strategies. 

This is just a general outline/plan.  Am I too naive? Can I get the loan? I like my job but I don't like working for other people.. :)

Loading replies...