Skip to content
×
PRO
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
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
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 about 8 years ago,

User Stats

116
Posts
61
Votes
Raeshelle C.
  • anywhere, MA
61
Votes |
116
Posts

I was preapproved. What kind of property should I buy?

Raeshelle C.
  • anywhere, MA
Posted

I was pre-approved for $130K with Freddie Mac, 1% down with a requirement to save reserves and have the seller pay closing costs. I'm a first-time home buyer and I work full-time. The apartment I live in now, I'm paying $500/mo plus utilities (splitting 1500/mo with my siblings) but I can afford to pay more than that per month obviously. The apartment I'm living in now is very small and broken down though, and it is not a stable living situation. I want to move out and be independent. I also want to own houses in the future to be financially independent. Knowing my situation, what kind of property would you recommend I buy? I do have a buyers agent but she doesn't have an investors mind and so that is why I am asking here. I want to make a decision that will benefit me financially in the future and help me on the road to owning properties in the future. (Side note: I live in a tenant-friendly state.)

Loading replies...