Buying 1st CHFA loan property. What makes a better future rental?

[Luis Arevalo]

Hello guys!

I’m buying my first real estate property in the grand junction, Colorado area. It’s a CHFA loan and I’m very excited, however I’m trying to make the best decision to set myself up for a rental portfolio.

My plan is to live in it for about a year then rent it out and refi and pull some equity out.

Which would yield the best benefits for the future, SFR, Townhome, apt, condo?

Trying to way out the pros and cons of buying cheaper or turn key as well.

[Teri Feeney Styers]

@Luis Arevalo @Ben Rhodin is correct. CHFA won't lend on a multi-family property; but there is nothing to prevent a conversion after the fact. I see properties all the time that are good candidates without tons of additional dollars needed.