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Updated over 8 years ago on . Most recent reply
FHA First Time Home and Investor
I firmly decide to become a real estate investor and I need advise. I've been studying for months and looking for deals "fortunately" I'm a first time home buyer and I've been preapproved for an FHA loan for the maximum (271k) in Hillsborough County (Tampa) FL.
One of my strategies is to use the first time option in Homepath, HUD, and Homestep to get ahead of investors and get a better chance to get the property, the challenge is that my agent tells me this offers usually go to investors because they buy cash and these agencies prefer cash investors over FHA or FHA 203k.
How a person in my situation get in the game when competing with investors with more financial capacity.
Most Popular Reply
I'd like to see what others have to say, and I don't know about Homepath and Homestep, but with HUD the first round of bidding goes to owner occupants, so I would assume for that reason alone they can't put a cash buyer ahead of you.