REI In the oven... Ready to start!

[Scarlett Noboa]

Hi and Good morning!

Straight to the point!. I am a New Real Estate Agent who fell in love with the RE investment world, so I’m looking to buy our (husband and I) first investment property, in the area I want to is so expensive right now, so we decide to look in another market that is 30 minutes commute from this location and we are looking to do house hack in this property.

I'm looking to buy a foreclosure property that needs major works, I know I can apply to a FHA 203 K Loan, but I want to know the pros and cons from this loan. I have the money for the down payment and the rehab, but they will not lend me just a FHA if the house is not habitable.

What are the advice from you, what should I do?