Qualifying for a 1st time buyer loan

[Daniel Mawyin]

Hi BP forums,

I am very new to REI. I am interested in purchasing a multifamily home in Los Angeles CA or surrounding areas. The idea is to occupy one unit and rent the other units out.

I have never purchased a home and my credit is very poor at the moment so I am sure I have a lot of work to do before I can qualify. I am wondering what type of credit is needed for this type of purchase and if there are any first time buyer opportunities I can look into or any other creative financing ideas that may be of interest for this type of purchase. 

I would greatly appreciate any feedback. 

Thank you!