All Forum Posts by: Eric Robinson

I think the biggest problem is finding lenders that are familiar with the process. Has anyone in OKC Oklahoma area used both FHA and VA loans for MF properties? If so, I'd love to hear how you did it and who you might have used.

Thanks @Upen Patel!

Hi Everyone,

As a new real estate investor, I am planning to use an FHA loan for my first MF property as an owner occupant. Then, a year or two later do it again with a VA loan. I know they can both be used to buy 1-4 unit properties. However, I'm worried there might be restrictions I'm not aware of or special rules regarding the use of them. I'm not getting much help from loan officers - even ones that have been in the business for 30+ years seem to know very little about doing this. So I'm hoping to get some expert advice from the real professionals on BP.

Hi Anna,

Congratulations on your first investment property! I too am just starting out here in the OKC area. Did you start with a SFH or Multifamily?

Thanks for the post @Evans Wright! I'm hoping to do the exact same thing very soon - buy a 4plex using VA or FHA. I too have been learning and reducing debt for the past year and am ready to pull the trigger. Now if only I could find one that will cashflow AND be in a decent neighborhood...

Yes - I would definitely be interested in a BP meetup here. I too am a member of the OKC REIA. They have a paid mentorship thing, but it's pretty pricey. I'm certainly open to other mentorship opportunities.

No Ryan - as long as you live there for at least a year, you're good.   

Thanks for sharing how you got started Dashon. Certainly don't let the criticism above bother you at all. It's easy for a veteran in the business to say the way they do things is better than how you're doing it. Well Duh! As you've probably seen, this kind of negative post is rare here on BP. But we all have to start somewhere. I'm just starting myself and plan to use an FHA and a VA loan (and credit cards) for my first two MF properties. I'll take advantage of these great programs, then move on to more creative ways - which sounds a lot like your path. I look forward to hearing more about how your deals are going. Keep at it!

Not sure about relabeling, but house-hacking is a term often used on this site to describe.  renting out rooms or living in one of the units of a multifamily while you rent out the others.

@Scott Trench - thanks for the insight. I'm working toward doing a house-hack for my first investment property as well , so it's interesting to hear your experiences. I plan to be a hands-on landlord too with the first few properties. I take it you're in a duplex? What kind of financing did you use (FHA, VA)?