Newbie! Multi family Properties. Thanks in advance!

[Jorge Avalos]

Hello Everyone, I am new to this site and I am very excited about this website since I can see there is a lot of information about RE that I can soak in. I'm close to finding my first investment property near (Houston, TX) Im 20 years old and have thought about this for a while now and want to invest in multi family properties. I have so many questions but I'm not sure if I'll be able to ask all of them. I'm looking to apply an FHA loan, is that the best way for me to start my first investment?. How am I able to analyze a good deal on the property? Where do I find out how much properties are being sold for around that area and what should I look forward to when I do take that first step. Any information will help... Thank You!

[Paul Timmins]

@Jorge Avalos

Welcome. 

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). You can Google to locate them and go to meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

Go to IREM.org search for ARM certified property managers. Call 5 ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.

You can also search NARPM.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.Download BP's newest book here some good due diligence and step by step what happens at a REIA meeting in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul