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.
Creative Real Estate Financing
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 over 7 years ago,

User Stats

40
Posts
27
Votes
Travis Konermann
  • Memphis, IN
27
Votes |
40
Posts

first property question

Travis Konermann
  • Memphis, IN
Posted

Okay BP so i'm looking to get into my first deal and i'm looking at two different options.

option 1: Buy one of my mom's rental properties from her with seller financing.

option 2: Use an FHA first time homebuyers loan to by a duplex, triplex, or fourplex.

My main question is if I use seller financing through my mom and attain my first property that way would I still be eligible for the FHA first time homebuyers loan since I technically won't be living in the seller financed SFH rental property?

the reason I want to do it this way is because I still don't really have any credit and I think the best way to learn would be through buying one of my mom's cash flowing property's and learning the day to day tasks with owning an investment property and dealing with tenants.

Loading replies...