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Updated about 10 years ago on . Most recent reply

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Zach Schaneberger
  • Renter
  • Asheville, NC
0
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1
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Introduction with a question on strategy.

Zach Schaneberger
  • Renter
  • Asheville, NC
Posted

Hi I'm Zach. I'm from the Asheville, NC area. I've been interested in investing in real estate for a few years now. I have came to the conclusion that if I don't get on it now then I might keep finding reasons not to because of fear. 

I have fallowed the BiggerPockets channel on youtube for a LONG while now and took the plunge to get further involved. 

As for the question on strategy. I have weighed many options and feel that multi-unit properties are going to be best for me at first. At least starting out. I feel there is a little less over all risk. I am thinking about "House Hacking". I'm able to use a VA home loan and FHA for a multi-unit up to a 4plex. I'm not that familiar with FHA. My understanding is you can only use FHA if you don't currently own a property. Is this correct? So while I can still use a FHA loan with only 3.5% down. Should I buy the first multi-unit property with the FHA and then use the VA 0% down to purchase the next?

My understanding is that I would have to use the property as my primary residence with the FHA and VA after purchase. But I'm not sure how long I would have to live in each property after purchase to keep the terms of the loan legit. 

Thank you in advanced. 

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