All Forum Posts by: Luke Ferrara

Thanks! Yeah we can use some good connections. We do have really good credit so we are open to seeing what options are out there. Our lease ends in November so I was going to start the preapproval process in September and start looking. In order for us to do a fixer upper though we'd need to do a 203k loan and I was also thinking about applying for the grants to help with the down payment. I'm not going to rush into it though I am willing to take the time necessary to find the right price and make sure that the numbers make sense. 

Thank you so much! Yeah that's a great idea! We'll keep learning more about flipping single family. I think it's more down our alley anyways. We always work on projects and my wife has a great imagination so I think it would fit our skills well.

Hello,

I am a new member and trying to learn as much as I can. My wife and I live in Salt Lake City, I am an Electrician and she is a Dental Assistant. I have been learning and listening to real estate books the last couple months as our lease ends in November and I want to get into investing. We both are very handy people and aren't afraid of a fixer upper. I am unsure if it would make more sense to get a multi family unit and live in one and rent out the others or to get a single family home. We would be using a FHA loan as we have some saved up but not near enough for 20%. My idea was to get a single family home and fix it up then re appraise it. Then use the new equity to invest into a rental property possibly. The numbers here in salt lake just don't make sense with a multi family unless you already have a lot of capital. Curious if anyone had input or ideas?