Updated about 8 years ago on . Most recent reply
Ready to join the world of real estate investing
Hey guys!
I am Aziz, I've recently just discover the interesting world of real estate investing. I am a 23 year old college graduate from North Carolina. My future goal is to own multiple properties
After doing a lot of research, I've decided I wanted to purchase a fourplex with an FHA, sometime early next year. I want to build my credit score up some more (659) and make more money just incase I'm unable to rent the other rooms out.
Now I do have a couple of questions
1. What would be a good starting amount to apply for ? I've seen some foreclose 4plexs really cheep and some in D neighborhoods for 65,000 and less
2. What steps should I take before buying my first property ?
3. Is a FHA loan like a line of credit ? Could I apply for a large amount and only spend some on the actually property and some on repairs and such.
4. any book recommendations ?