Newbie from Florida looking for advice.

[Thelmo Rego]

Hello everyone, Long time reader 1st time poster, I wanted to go thru my general getting started strategy with you all to see if there is anything major that I am missing or should know before getting started. I am hoping to start with either a triplex or quadplex. In my area these are roughly going for 180k to 200k from what I have seen and they cash flow really well, a two bedroom in this area ranges from $800-$1200 depending on the area so your talking about 3-4 k gross if they are all rented. My plan is to do the BRRRR strategy. Any way, one of my biggest concerns is getting the financing, I have saved about 10k of start up money and I'm hoping to do a FHA loan for the first house. My concern is that my credit isn't great, it's in the low 600s. Everything I read says that above 580 I should qualify for a FHA but I'm concerned about it. Also at my current day job, I make an about 35k per year so I'm hoping that the banks will take into consideration the potential rental income of the property when making a decision. Any advice or thoughts that any of you have, I would really appreciate! Thank you so much.

[Xeniya McBroom]

Hello Thelmo, from my personal and professional experience, I know for a fact that you have quite a few options with the credit score, the downpayment amount,  and the income that you have. Also, if there is a lease for a year in place, lenders can use that rent towards your qualifying income. I can recommend a few lenders and I am also a Realtor if you need help getting up to date info on listings, sold comps, or need to see a property that is for sale. Send me a colleague request and I'll be happy to help.