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Updated about 9 years ago,

User Stats

3
Posts
2
Votes
James Ryan
  • Newton, NJ
2
Votes |
3
Posts

New member interested in Rental Properties

James Ryan
  • Newton, NJ
Posted

Hello Everyone!

My name is James and I am new to Real Estate. I am particularly interested in multifamily homes. I have done research into rental properties and it seems multifamily homes seem like a good start. I came across FHA loans and was wondering if anyone was pretty familiar with these loans. I was wondering if I were to get approved for one for lets say a quad and after a year or two decided to move out. Would that complicate my mortgage if it was an FHA and I wanted to move out. Seeing how in order to get approved it has to be for your own residence. That was one of my big questions. Also would foreclosed homes be worth looking at since you can get them so cheap or are the investment costs to repair them generally too high to where they are a money pit and a hell house.

Thanks for your time!

Any and all advice is greatly appreciated.

I'm here to learn from people who have done it before. All advice, tips, tricks, and opinions are welcome in regards to all real estate but primarily multifamily homes and first getting a start in rental properties. 

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