All Forum Posts by: Justin Lee

@Amanda Sutherlin awesome Amanda! I just wanted to know what kind of loan you got and did your repair costs come out of pocket?

Yeah i want to learn ways to start investing with little downpayment. I read that you can purchase multi unit homes with an FHA loan (3.5% down) but you must live in one of the units. But i wonder if there is another way since i won't make enough to cover two rents (one of them i'm living in now).

@Jeffrey Giffin ok thanks! So an FHA loan can be converted after a year? Isn't a 2-4 unit a rental property though?

Hello everyone! So i'm currently learning the business and saving for my first property. I want to own properties and rent them out and eventually want to flip houses once i make enough mo ey to play with. I want to start as possible and gave myself until next May to save up and will be able to save $6000.

1. Is it possible to use that as a down payment for a rental property?

2. Can I use that for an FHA loan on a duplex?

3. How would you use $6,000 to get your real estate career started?

i'm really interested in learning about financing as well. Like how much down payment is needed and if there any loopholes for low down payments

@Jeffrey Giffin and also Fha loans are allowed for houses? And can i keep applying for fha loans if i purchase multiple houses to flip or rent out?

@Jeffrey Giffin will they investigate to see if i do live in the property?

Hi so i'm currently saving to purchase my first rental property and i just wanted to know if the FHA loan is allowed only for the first purchase or can you always apply for an FHA loan. Second, is there a loan that includes repair costs or is that out of pocket?