First Ever REI Meeting

[Ricardo Olea]

Hello BP,

A first post looking and looking to get some good feedback. Decided to get the ball rolling, you know what they say you have to actually get started to be successful. So I contacted my Loan Officer who helped finance my townhome and he was glad to meet up and discuss REI.

Originally asked to talk about some HML possibilities really just to get educated and he touched on HML but I felt like he was "selling" me for a while. I immediately put up my guard but then he started actually explaining a lot of the business side of things and I figured "hey the least I can do is listen to his pitch."

The information I got from him was very insightful and he brought up some good ideas that I never knew about and sounded good. He told me to look into the FHA 203K to start buying properties to live in and rehab at a slower pace to get my feet wet and then refi and use the profit to do the same process on another home then pretty much wash n repeat.

My question is does anyone have any experience using a FHA 203K and doing this process before? I am not in a rush to make the big flips yet, I want to be patient make as few errors as possible. At the same time, my financial status doesn't have me in a position to do much thus my initial thought was HML. Looking forward to some feedback. If I don't get back to you ASAP it because I'm going to sleep. I'll get back to you in the AM. Thanks