I am a new investor so pardon my lack of knowledge but, I recently came across a great job opportunity in my 9-5, however given the nature I am NOT permitted to purchase REOs from FNMA, or purchase homes in short sales or other foreclosure auctions where the home is secured by a FNMA-owned loan. I primarily am focused on flipping homes to generate capital to invest in small multifamily rentals, and eventually move into large multifamily.
I realize FNMA is a huge part of the secondary mortgage market but I wanted to get y'all's opinion on just how much these stipulations would hinder my ability to achieve my investment goals? Any advice would be much appreciated as I am new to this I am not sure how much this would effect the normal course of business.
You can buy houses before they go to foreclosure. You can buy homes from probate. You can buy homes on seller financing... on and on
There are so many options out there, this should in no way kill your investment progress. Let's say you learn more about these rules and it effectively prevents you from flipping houses. OK, then buy notes. Or invest in syndications. Or buy raw land. Or something else!
If you take the job, just be creative enough to make sure this doesn't hinder you. These types of forums often discount the value of a big raise at your work, but that's more capital for you to work with in the long run.
@Taylor L. thank you for your response, that's definitely encouraging! Yeah the goal with this new job was to be able to afford me more time and capital to pursue real estate more seriously, I am up for the challenge to get more creative. Thanks again!
@Taylor L. thank you for your response, that's definitely encouraging! Yeah the goal with this new job was to be able to afford me more time and capital to pursue real estate more seriously, I am up for the challenge to get more creative. Thanks again!
You got it. Be a deal architect. There are so many ways to invest in real estate! Eliminating a couple is doing you a favor, in a way, because it can drive you to focus. And being able to focus on one thing is a gift and an enormous advantage, but only if you turn it into one.