All Forum Posts by: Jevon Shaw

I second starting out with house hacking. Great way to get your feet wet.

This BiggerPockets YouTube video with Brandon Turner may help you with the analysis piece:

Some areas also require sufficient parking so you may also want to ask the city/seller about that.

Make sure everything is in writing. Also, since you are friends, try to come up with an agreed upon general conflict resolution framework. It's not a matter of if things come up, it's a matter of when.

Are you hoping to live in the property?

Welcome, Shikirah! It is definitely ok to pivot. One thing you should know is that there are conventional "equivalents" to FHA. I think they are called HFA conventional mortgages. You should ask your lender if they are something they can offer you. They may require a larger down payment on a 2 unit property.

Keep your head up! Do it for future you!

I use a free iOS app called Smart Receipts. It's been good for me so far.

They may still give you the loan depending on how much you have in reserves and how much you bring in monthly. Needless to say, if you only bring in $3000 per month, and the mortgage is something like $2500, they can't lend to you on that property. 

Hey Samuel. This will depend on a number of factors including but not limited whether it's a SFH vs a small multifamily and the condition of the property. Do you already have a property in mind? If so, can you give us a little more info on it?

Sounds like a decent plan, Anson. Kudos to you for getting started so early!