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Updated almost 6 years ago on . Most recent reply

User Stats

63
Posts
47
Votes
Nakia Addison
  • New to Real Estate
  • Las Vegas
47
Votes |
63
Posts

Newbie to Real Estate! Excited but cautious!

Nakia Addison
  • New to Real Estate
  • Las Vegas
Posted

I'm in the process of educating myself in real estate in order to purchase my first rental property this year. My niche criteria are single family homes and Multi-family homes. I desire to purchase a Multi-Family first (2-4 units). I'm preapproved, however I'm concern that I will miss out on a great investment opportunity because I would need 20% down if I plan to go conventional because this purchase will be out of state. Therefore; I don't qualify for FHA because I won't be an owner occupied landlord. Any other options for financing? I heard of a no money down option or seller financing but I feel that since I'm so new to this that these are advanced strategies that I have not mastered yet.

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