All Forum Posts by: Troy R.

As i am reading up on different loans, I wanted to ask this question from the experts.

Can I use a FHA loan to get a multiple family unit, while living in one and renting the others and then get a homepath loan to build my portfolio?

And how and where does the HUD program come into play that can help me?

Lets say hypothetically i have all the money for the downpayments.

How could i use each to my advantage if possible?

@Jim Goebel

Thank you for the great advice and scenarios.

@Ciprian L.

I am looking at heloc over a mortgage because i do not want to have a set payment each month. I had a very horrible experience paying off my first house. So moving forward with starting to invest i want flexibility in paying off the debt.

And yes I am just starting out. I am aware that i will owe $500k either way..but I want flexibility in how the $500k is paid back.

So thats why I am here for other options or for someone to poke holes in my thought process so I can make the best decision.

these will be buy and hold and its 8 in total. So thats why i wanted to buy four and use the equity from them to buy the other 4. I really dont want to go the mortgage route so i want to use the equity route if i could. I am new to this so please forgive my ignorance. I am guessing heloc is better than a mortgage.

while 20-30% down would save me alot of money to do other things..i want more security than anything. so is heloc better than mortgage in this case?

I have a question.

While searching for houses to invest in, i found quite a bit. They all totaled to $1million. But I only have $500k.

Is it a good idea to instead of getting a mortgage for $1million, should i buy all i can for $500k and then use the equity to buy the rest and that way I only have the $500K to repay?

Please let me know if i didnt think this out properly.