All Forum Posts by: Liam O'Hara

Jason,

I appreciate the response. As a follow up, is 12 months the minimum owner-occupancy period prior to a refi and change of primary residence? I work in Arlington and do not have intentions of living elsewhere. However, I do not plan on investing in this area due to hurdles of entry such as expensive product and high competition. Would it be a mistake to not take advantage of the low money down loans for a first time home buyers primary residence, and instead attempt to invest out of state in a traditional investment property?

Hi Bigger Pockets Forums, 

I've been saving up money from my full time job to invest in real estate. As I continue to save and approach an acceptable down payment threshold, I am debating a few things and looking for some advice/insight. 

1. Is it a bad idea to invest out-of-state for a first time home buyer/investor?

2. I am considering partnering with one or two of my associates which would allow us to buy a larger property (likely a nice duplex or triplex) since none of us currently have the capital for this down payment individually. Would it be a better idea to invest in a single family home with only my personal capital, or partner with a colleague(s) and go 50/50 or 33/33/33 on a larger multi-unit property? (None of us would be living in the unit)

3. Any other beginner advice or suggestions? My goal is to have something under contract by the beginning of 2025.