New Member from Rhode Island

[Jay Gabriele]

Hello Everyone!! My name is Jay and i'm from Rhode Island. Im a recent College Graduate with a Bachelor's degree in Cyber Security. I am currently working full time, I got lucky and got a job right out of college. I am currently saving for my first investment property. I'm looking into Duplexes or Triplexes with the benefit of using an FHA loan to get the added bonus of putting 3.5% down instead of 20%. Ideally my goal for 2016 is to purchase my first property and start building up a bigger portfolio every two years. I do currently have student debt and a car payment. I'm not looking to flip, my main goal is to build a strong portfolio of properties that will take care of me and my family for years to come.

I look forward to meeting everyone and am excited and driven to succeed in this business.

Thanks to the BP community for all the advice and dedication with everything real estate.

Gabe

[KEVIN FLYNN]

hi @Jay Gabriele,

Congratulations!

RI has a great program where you can buy distressed property and they will give you 20k towards down payment, it's only for first time buyers. You have to live in the home for 5 years. More details can be found on RI housings website. FHA loan is great but be aware there is PMI which can get costly. Some local banks like Centreville are letting people buy homes with only 5% down and no PMI. Good Luck!