All Forum Posts by: Jorge Alzate

Hello BP members!

thank you in advance for any feedback!

I'm financing a property through an FHA loan as a first time home buyer. I was informed about a Florida Mortgage Credit Program I  would qualify for as long as I live in the property. I plan to live in the property for a couple of years and then move out and keep in the RE Investing path. Please share your experience or the pros and cons for a person who sees the property as a real estate investment in the long term.

see below the program description.

The Program: Entitles the recipients to take an annual federal income tax credit. A tax credit represents a reduction of actual federal income taxes due. The holder of the MCC may use the credit each year the loan is outstanding as long as they continue to live in the home. ($2000 Tax credit a year)

Many thanks!

Antonio thank you for your prompt reply.

Hello RE colleagues, I'm in the path of getting an FHA Loan as a first time home buyer and was looking at the possibilty of a FL down payment Assitance Program. But first I want to make sure of the pros and cons of it, since the plan is buying a triplex or fourplex, live in one unit and rent the rest. I dont plan to live more than two years in the apartment. If anyone has any information, advice about this please your help & wisdom would be greatly appreciate it. I look forward for your help. Thank you!!

HELLO BP!!!

I'm Jorge! first time here in the forums. I'm buying my first real estate property (Multifamily) within the next three months. I will buy it as a first time home owner with an FHA loan. I have pretty decent score and I've been working in a full time job for the last couple of years. I have done the homework so far (books, podcasts, seminars, etc) but so far all I have is the theory. (Not bad to start). It would be GREAT If I get the opportunity to meet someone here willing to help me in my first investment (Someone who has actually done it already) I'm willing to learn and give everything to succeed in this new path in my life, Please if someone is willing to guide me and share all their wisdom I would greatly appreciate it!!!! Thanks!

(I'm located in South Florida, Broward county)