All Forum Posts by: Andrey Sokolen

Bruce, I appreciate you pointing out that FHA and 5% is for the owner occupied properties.

I might wasn't clear in my original post. I'm looking for duplex/triplex at which I can leave in one unit for the first year and rent other unit(s). Once loan's requirement is fulfilled, I buy another property and "rinse and repeat. My concern is if I pay the same amount as a renter from another unit(s), I don't see braking even with the monthly payment. Please let me know if I am missing something. 

If you can shed a light on specific areas/pockets of DFW which have a potential to brake even or even save a couple of hundred dollars, that would be fantastic. For example, Andrey look into North Richland Hills, TX (there are quite of multifamily properties in there). 

First and most important, I'd like to express my gratitude to BP community. I've learned a ton from y'all which changed my mindset on investing. Because of that, I was able to save over 75K and now ready to invest them into my first househack. Ideally, 3.5% down with FHA (or 5% conventional) which will be first block to my buy-and-hold multifamily portfolio. The goal is to have 10 "doors" in the next 3 years.

However, I'm having a hard time to find area with properties which at least brake even (monthly payment vs rent payments). Because of my remote job, I have only criteria is to have property in non-income tax state. By now, I've been looking in Seattle-Tacoma, Tampa-St Pete, and Dallas areas. I understand that those are hot areas and competition from in-state and out-of-state investors are tremendous. 

Because of that, I'm reaching out to this community of experts. Please point me to the potential areas with multifamily properties which still have a potential to cashflow and not only rely/hope for equity appreciation. 

I'm convince that this community has abundancy mindset and willing to help newbie to get started. 

Much appreciated in advance!