All Forum Posts by: Joel Bowen

Thanks @Patrick Donovan! 

Hi guys, I am brand new at real estate investment. I am still just researching as much information as possible at this point. I learned that if I were to use an FHA loan to purchase my first property I am able to purchase a multi-family unit that has up to 4 units. I just finished reading this article by Frank Defazio (http://www.biggerpockets.com/renewsblog/2012/11/08...) 

and he states that after a period of time you can move out of the property and rent out of room you were living in to generate a higher cash flow. Is it legal to purchase say a 4-plex and never live in it at all with an FHA loan? My parents have a property with an extra unit that I can stay for free and I don't have any real estate in my name. My address is registered currently to my parents address. There would be no reason for me to move into the 4-plex unless I legally had to, to secure the FHA loan.

Second question, If I do legally have to live there, How long after living there can I move out so that I can generate extra cash flow off of the 4th unit?

Thanks in advance guys!

Nice work bro!

Wow that is amazing work @Derek T.! I am inspired by stories like this.

Thanks @Account Closed, I will def read up!

@Randy Johnston

Randy thanks so much, the first thing I will do when I arrive back to Portland is get involved with NW REIA and Rarebird. I can't wait! Again thanks so much, this is an amazing site, it's been such a positive experience so far.

@Jeff Hamlin

 Thanks Jeff, I will def get in contact when I get back to Portland. I am aiming for mid May. Look forward to meeting you.

@Paul Timmins

 Thanks for much for the good advice Paul. I will get right now this!

Hi everyone,

My name is Joel and I am brand new to real estate. I am currently successfully running a Fitness business in Thailand but will be relocated back to where I was born and raised in Portland, Oregon soon. I am a complete newbie but am very motivated to get into the business. I am 33 years old. I feel I have the business experience to cross over into a new passion. If I can translate what I have done with my business into what I would like to do with real estate I will be very proud of myself.

I am not really sure exactly what my goals are yet in real estate. There are so many different specific niches that appeal to me and I am still trying to read and study which niche will most likely be best for me. I am thinking of acquiring properties for long term investment as I am not as risk diverse as some. I found BiggerPockets.com just simply by doing a search on google for a place to interact with like-minded people.

I look forward to being a sponge and absorbing everything you guys have to offer. I hope that I can bring to the table the equivalent of what this site has already offered me. What an amazing site!

Joel