Hello, new potential investor here. I have been using the stock market to save money and increase capital over the last few months in order to get started in real estate. I am very passionate about the field and come from a family of extremely successful investors. There are a couple things holding me back from my first deal.
The first, and most important, is that I am still renting my personal residence and have never bought a home before. My credit is solid, but would it be possible to purchase an investment property first? If so, would I be able to get an FHA loan when I do buy a personal residence since it wouldn't be my first buy? I have a list of lenders in my area that I am going to call on Monday so I figure that would be a good start.
Another thing would deciding on how to start. Should I just wait out my current lease and purchase a duplex when it is over? Live in 1 side? I have also found a great deal on a manufactured home w/ land that would provide excellent cashflow. That could be another option.
