All Forum Posts by: Alexander N.

Ahhh okay makes sense - just to double-clarify, because this is the root of my question, it is indeed 12 months from when I move in, not 12 months from the purchase date? That is what I thought, but swore I heard different on a recent BP episode. 

@Kevin S., in this situation, yes it would be a 203K - sorry, should have clarified. 

 Great! Thanks for the insight,  @Chris Mason!

@Chris Mason

"Intention" was capitalized solely to show that I might not actually be able to live there immediately(would have italicized if possible!)

Let me provide a bit more context: I plan on doing some rehab work, and am not sure how long it might take. If the rehab takes one month, then perfect, I'll move in one month after close.

BUT, if it takes 5-7 months, although I intended on living in it prior to that, I would not be able to. In this circumstance, am I in the clear? Or do I have to live in it for an additional 6 months, post-rehab?

Thanks!

Looking for some insight here..

I'm currently looking for a 2plex-4plex in a few different markets and am circling back to the idea of FHA owner occupied.

I just want to understand the specifics here. My understanding is that you just have to have the INTENTION of living within the residency for 6 months. For example, I buy a 3plex with FHA, and rehab takes 6 months. Can I immediately rent it out after that? Although I never lived in it, can I claim intent during that rehab process?

Not sure how fine the lines are, and am not trying to get myself in trouble, just trying to get a bit creative - any insight is appreciated. 

Thanks!

Looking for recommendations for mortgage brokers/lenders in Indianapolis. Looking at buying a 60K Duplex. Has anyone worked with someone they enjoyed or have any recommendations? 

Thanks!!!

@Danny Ko Wow, Danny - your story parallels mine, other than me being from the East Coast :). Let's chat - I'll add you. 

@Michael Geraci - I'm in the same boat as you. From the NorthEast (Boston) and have been honing in on Indy as a good, safe cashflow opportunity. We should chat and exchange ideas!

Thanks @Lance W.. Agreed, reading that currently! What areas have you been looking at?

Living in Boston, eager to get my feet wet in R.I. The area is much too expensive for me to cashflow in this area for what I can put down. Any helpful links, podcast episodes etc on the topic of investing out of state for your first purchase?

Thanks!!