All Forum Posts by: Jesse Gargus-Smith

So I was talking to my REA earlier about a mailing list for MFs, and I mentioned that I wanted to be able to use an FHA loan for those properties, and he said that an FHA loan would only work for one half of the duplex and not the whole thing. As far as I've researched (mainly on BP), an FHA will work for the entire property. Am I wrong in thinking this? How does an FHA loan work with MFs? I plan on house hacking for at least a year, or whatever the FHA loan states. What kind of resources could I give my REA to look at if he's confused. I don't want to speak without backing to give him. Thanks in advance guys!

So I was talking to my REA earlier about a mailing list for MFs, and I mentioned that I wanted to be able to use an FHA loan for those properties, and he said that an FHA loan would only work for one half of the duplex and not the whole thing. As far as I've researched (mainly on BP), an FHA will work for the entire property. Am I wrong in thinking this? How does an FHA loan work with MFs? I plan on house hacking for at least a year, or whatever the FHA loan states. What kind of resources could I give my REA to look at if he's confused. I don't want to speak without backing to give him. Thanks in advance guys!

Thank for the replies guys! I am more leaning toward the sf mainly because I'd prefer to be out in the boonies. This being my first house, and my first step into real estate, I'd like to make the most of it. However, my credit isn't great, and I'm banking on an fha. How long would I have to wait for my credit to repair before offering on another deal? That is, if I go with a single family to reside in for greater than twelve months.

Good morning all! My name is Jesse, and I am looking to get into real estate, and I thought here might be a good place to start. I am 24 years old, no kids between my girlfriend or I, no car payments, low rent and insurance, and less than $5k in student loans. However, my credit score from TU is 550, and from Equifax it's 588. I'm living in the Farwell area, and look for properties in this area, Mt. Pleasant, and as far south and Greenville. I am looking mainly into single families with garages and outbuildings BUT, I caught wind of a duplex that it reasonably priced with recent renovations to one of the units. I have been trying to convince my gf to be open to MF properties for house hacking purposes, and she is ready to move out of my parents house (millennials 🙄). I have been studying personal development, Robert Kiyosaki, I listen to the BiggerPockets podcast, and have done research into marketing, business, real estate, etc., for about the last six years, and I finally want to make the jump on something. I am looking for REIAs in the area! Dear God, I am sorry this was a novel. I hope to get to know some of you guys!