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Updated about 6 years ago on . Most recent reply

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

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282
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180
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Tyler Bushey
  • Investor
  • Biddeford, ME
180
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282
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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!

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