New Investor from Utah

[Thomas Bailey]

Hello! My name is Thomas, I live in centerville Utah. I've always been intrigued in real estate... but I've never done anything about it. I'm currently getting my masters in finance, and I currently live with my parents. I took a real estate class, where honestly I didn't learn a ton when it comes to investing (I can calculate cap rates and understand corner lots sell more then middle lots... haha. And other mediocre stuff...) My professor told me, since I am single... I should buy a quad plex, live in one unit, and the other units out. I can use an FHA loan to maximize my leverage. Any suggestions on where to start or how to start would be grateful! I'm definitely new.

[Jacob Cogswell]

Your professor is a smart man. You can buy a multi unit and live in one for a year, and move onto something else after that. Doing an owner occupy with 5% down is a great move. You can do it with an FHA loan, but the Mortgage insurance carries for the life of the loan.