Skip to content
×
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
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
New Member Introductions
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 22 days ago on . Most recent reply

User Stats

1
Posts
4
Votes
Pearse Cafiero
4
Votes |
1
Posts

New To Investing

Pearse Cafiero
Posted

Hi Everyone, 

Trying to figure out the best way to go about getting my first rental property. Ideally was thinking a duplex, triplex, or quadplex to get started and use an FHA loan but I also have a private lender that can possibly help with up to $200k worth of a down payment. I want to find something local (Los Angeles area), move in, do small renovations to possibly build up more equity, do a 1031 exchange, and find something better.

Thoughts? Suggestions?

Most Popular Reply

User Stats

6,629
Posts
7,585
Votes
Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
7,585
Votes |
6,629
Posts
Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

LA is a tough market for that. Now, with the ADU rules, developers are buying anything close with some extra space so there may only be scraps left that wouldn't pass FHA or would price you out. I would not want a private lender on the downpayment because you would be starting your first investment with two loans. Look up Barbara Isabel on social. She knows all the nooks and crannies of LA multifamily.

business profile image
Zen and the Art of Real Estate Investing
5.0 stars
9 Reviews

Loading replies...