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Updated over 4 years ago,
preapproved for my fist house hack
Hey BP, im ready to start my journey to financial freedom through real estate and trying o take the first step. i just got preapproval for a FHA loan up to 190k. i currently live in an apartment and pay 850 a month for rent plus utilities. i want to find a multifamily to start house hacking to chop my living expense down and start building my rental portfolio. i was just wondering if any more seasoned home buyers have any tips tricks or advice for a first time home buyer.
some of the questions ive had are
1.) Should i try to get a duplex or are more door more better? lol
2.)Any tips on negotiation on the homes price?
3.)Is there any way to use OPM or any way to also leverage the 3.5% down payment?
4.) any thoughts or opinions on multifamily houses that look like SFR but may be divided by floor? Do you find these are harder to fill vacancy in?
Any response or advice will be helpful!