Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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.
Buying & Selling Real Estate
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 almost 8 years ago,

User Stats

42
Posts
10
Votes
Marco Cruzatt
  • Civil Engineer
  • Thousand Oaks
10
Votes |
42
Posts

Looking to buy a duplex or a 4 unit as my first investment.

Marco Cruzatt
  • Civil Engineer
  • Thousand Oaks
Posted

Hello guys,

I'm looking make my first deal. I don't really care about living at a nice home therefore I dont plan on living in the property. 
My plan is to purchase a duplex (Or 4 unit if the bank allows me) and have my mom live  in one of the units (and manage the property) and rent the 2nd unit. However, I live in LA and my mom lives in So Flo (Coconut Creek). Here are my questions:

1) Can I buy in So Fl but live in LA? (Will the bank be ok with it?)
2) Can I finance in LA and buy in So FL or do I have to get a financing company in So Fl?
3) What are my loan options and what would be the most beneficial and cost efficient type of loan for me.

I have good credit and a strong steady income (I'm a Civil Engineer)

Loading replies...