Whats the Right direction for me!

[Jordan Lepley]

Hey BP, I just had a quick question about what path I should take! I have decent funds (50k cash and looking to invest) also have a good w2 job but I'm currently looking at doing real estate and making it full time but having an issue with deciding if I should get an FHA loan for a multi family and also buy a property with a conventional loan? Or if I have the means to save for conventional loans should I just do that?? I'm fairly new to this and learning every day! If anyone with some real-estate knowledge in the Cleveland and Akron Ohio area would like to link up and talk that would be amazing! Thanks in advance BP!

[Brandon Sturgill]

@Jordan Lepley Welcome and congrats on getting going. FHA, despite its popularity is a pretty horrible program...its basically segregated the country and trapped low income households in overpriced mortgages for decades to come...the upfront mortgage insurance alone is criminal. If you have good credit, there is no reason to go FHA...a 5% down conventional is the ticket...just check in with some lenders and get your pre-approval asap...that is step 1.

House hacking a 2-4 unit is always the way to go if you can tolerate it...but you can also find a lot of possible upside in the SFR market if you are willing to look at distressed assets and add value by improving the condition.

Best of luck in your journey...I'm sure you will get lots more advice from the local folks in your market.