All Forum Posts by: Didier Bizimungu

@Nicholas R Foster I used the NACA program to buy my triplex back in 2019. I put next to nothing down but IMHO NACA's program in reality is very frustrating. The workers are great but under trained, over worked and under paid so getting timely communications, complete answers or clear next steps is a challenge to say the least.

Basically, its a great program but it is not designed for a great customer experience. If you can get through it though, it will set you up well. I now live for free in Los Angeles and have been since 2021. 

What I've heard is that you shouldn't use a NACA for investment unless you plan on staying in the unit for at least three years. After that, you could refi with a traditional mortgage and move on. Why the three-year time frame, I'm not entirely certain. I assume to build enough equity so that the mortgage payments don't outpace the cash flow.

I'd like to use this program for a Multi-Family home, and reside in one of the units while renting out some of my primary unit via AirBnB, and have a yard that could be monetized through Sniff-Spot while I live there.  The way I understand it, the only requirement is that I'd have to reside on the property.  I'm just not sure if all this is allowed.  

I'm trying to get set up to do this in the East Phoenix Metro.  I'm pretty handy and would love to save on reno costs by updating and renovating with my own hands.  I'm also self-employed grossing around 100K, will be student loan free by the end of the year, and car loan free by April of 23'. 
Does anyone know any reasonable objections to this rough draft?  Beyond the three-year stay, I'd move out and use property management.  Thanks for any opinions/advice.