First Property Purchase

[Steve Sorensen]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $272,000
Cash invested: $11,045

Used an FHA loan to purchase my first triplex. Plan to house hack it for a year then rent out the entire property.

What made you interested in investing in this type of deal?

I was originally looking only at single family homes because, being new, I thought I could only buy a single family home with an FHA loan. This opportunity was presented to me and I put up a post on the BP forum and got several responses explaining that the FHA loan would work for this unit as well.