New Poster from Galveston, Tx

[Karlsen B.]

 Hey all, I've been lurking these forums for quite some time.  Became a member awhile ago yet still never posted.  I'm posting now in hopes of being able to serve others on this forum the way this forum has served me.

I closed on my first property last August (2014) in Galveston.  It is a 100 year old triplex with a newer 1940s garage apartment in the back all under one tax account.  I occupy a unit in the triplex.

Thanks to biggerpockets I was able to learn about all of the different financing strategies. Learned the basics of residential loans and loan programs. I eventually settled with an FHA insured loan at 30 years and let me tell you that those inspectors are picky.

My home's first floor is under the base flood elevation.  Because of this, my monthly escrow payment is more than my principal and interest due to insurance.  This isn't a first for BP but not a very heavily discussed topic that I am willing to help others with.