Im 17, trying to set my self up for my first property.

[Jaden George]

Hi guys, I’m seventeen and trying to set myself up to easily buy a multifamily property before I am 20 within my college town (right now it looks like it may be either Daytona Beach or Jacksonville, FL). I was wondering what are some things I need to be aware of to be sure that I am not surprised when I go to make it happen. If I keep working and saving at the pace I am, I can conservatively estimate $30,000 in my bank. Plus I can rely on some private lenders in my family who share my love of real estate.

- How important is building credit?

- Is an FHA loan a good way to finance?

Anything else I need to know?

Thanks so much!

[Michael J Scanlon]

Building credit is important and you'll need either a W2 job or two years of proven 1099 income. 

FHA is good for a second multifamily but your first you should be able to do a 5% down conventional type loan like a home possible and then an FHA year two.