New to Memphis investments

[Natan Lieber]

Hi

My name is Nathan Lieber, I am new to real estate investments in Memphis.

I am interested in buy and hold or fix & flip deals of SFH up to $100K.

I would be happy to get some tips and start building some connections and local team.

Thank you for your help

Nathan Lieber

[Matthew Kwan]

HI Natan
You can always start off on house hacking a multifamily in MI 1-4 units with min 5% down or 3.5% down for FHA. This will allow you to acquire more rental units and also being able to use the vacated unit rents at 75% to help your debt to income ratio DTI.
There is a FHA 100 mile rule if you do plan on using FHA on your 2nd house hack. The fha 100 mile rule will be triggered whenever you try to vacate your current primary and also trying to use the rental income to qualify.

However, this 100 mile rule can be exempted for the following rules

1. Relocation
2. Increase in family size
3. Vacating a joint owned property
4. Non-occupying co-borrower

If you are not trying to use FHA on your 2nd househack, you can use conventional and the rules that I mentioned above will not be a concern.

@Carlos Valencia @Albert Bui