Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago,

User Stats

22
Posts
12
Votes
Sharissa P.
  • Linden, NJ
12
Votes |
22
Posts

First investment property

Sharissa P.
  • Linden, NJ
Posted

I plan to invest in multi family home in New Jersey. Initially my plan was to house hack buy a home rent out one unit live in another that way I could use my FHA loan and my real estate broker found a grant called DPA that would provide the down payment of 10,000. I have been saving prior to being pre approved now I can afford the down payment. I'm considering to just purchase a property and not live in it and rent out both units. If I don't live in the home I purchase I can't use the grant or FHA loan. My question is are there other loans to help me? Will I even be able to purchase a home with just a down payment of 10,000? What obstacles might I run into?

Loading replies...