Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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 6 years ago on . Most recent reply

User Stats

11
Posts
4
Votes
Nickolas Rossol
  • Real Estate Agent
  • Washington, MI
4
Votes |
11
Posts

Buying a multi family property as my first house and investment

Nickolas Rossol
  • Real Estate Agent
  • Washington, MI
Posted

Currently 21 years old and saving $ to move out of my parents house soon. My plan is to save up a decent amount of money here throughout 2019 and purchase a multi family instead of an apartment or single family property when 2020 comes around. I would live in one of the units and rent out the remaining units. I'm wondering if what things I should be aware of when I'm ready to make my first deal as I want to make sure that if I go through with it that things will go as smoothly as possible and I can hopefully avoid some dumb newbie mistakes. Any advice is greatly appreciated! Thanks.

Most Popular Reply

User Stats

282
Posts
180
Votes
Tyler Bushey
  • Investor
  • Biddeford, ME
180
Votes |
282
Posts
Tyler Bushey
  • Investor
  • Biddeford, ME
Replied

@Nickolas Rossol. You'll have no problem doing fha for a multi! I would reccomend refinancing the property after a few years to a conventional mortgage, this will allow you to do a second fha mortgage and buy another multi!

Loading replies...