All Forum Posts by: Jean Pierre Viergutz

Hello all, I'm back after a brief period and been reeducating myself on everything I learned last year. So here I am, future rehabilitation center therapist, graduating from a graduate program in two years, looking to obtain a FHA 203k loan to move into my own investment property(duplex, triplex, or quadruplex) with only 3.5% down(the terms of this loan) and obtain rehabbing financing. My question is, lets say I move into a duplex, and I stay in one unit(unless I move into a quadruplex and hire a property manager). Will the rehab loan money only cover the unit I'm living in ? Or will it also cover the other unit of the duplex I would be living in?

I am new to this real estate investing so bare with me and my beginner questions.

Also, are quadruplex that need rehabbing feasibleto find in a good metropolitan city, or does it take lots of work from and the help of a real estate agent using the MLS.

Thank you,

Jean-Pierre Viergutz

PS: I am 25 

Any meet ups in Miami-Dade as of now?

Thank you @Dave Foster @DaveFoster for clearing that out. 

Hey @Marc Yu , thanks for answering. I learned in the intro course that although FHA is for personal use, you could still rent it out to somebody if living in a duplex or any other multiple form of housing. I can remember exactly but I know the into course mentioned something along the lines that after one or two years you can sell it. The FHA loan you could also get a loan for rehab.

Thanks for answering also @Duriel Taylor, I would be very interested, however I would need about a few months to gain more knowledge so I understand the strategies and RE investing of the small group of investors you are part of. I would also have to find out if I'm able to hold the trust as collateral and be able to invest part of my money along the group's funds. Thank you for reaching out

JPV

PS: any more comments and info would be appreciated

Hello guys, just finished the beginners free course. Exited to be here and committed to learn as much as possible. So a little about me. I have a trust in the amount of 260k and work part time making little money for now. I'm getting a masters and will be making 60k in a couple of years. I m thinking of either taking out a loan with the trust as collateral if i can, don't know if you can do this, maybe you guys can answer this question for me. Otherwise i ll save up enough money after I'm making 60k a year to o=out some money down in a FHA loan for a duplex or quadruplex? While fixing it up with the money they lend me cause that's the beauty of a FHA loan, while renting it and then selling it after one year or two years while doing the 1031 exchange.

I actually don't know what niche or strategy to pick. I just said FHA loan cause it sounded like a good idea by renting it, fixing it and flipping it, while living in it.

Thank you ahead of time,

JPV

PS: I also live in Miami