All Forum Posts by: Account Closed

Nope. I just got an FHA loan to purchase the home I live in. I also have 2 VA loans, one on a 4 plex and one on an SFR (yes I lived in both of those properties before moving to this one) as well as a conventional loan on another investment property.

Guys thank you for the replies.

@Brandi Carballo did you have to prove to them the 2 years worth of rental income you're receiving from your other properties to qualify for the FHA?

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Originally posted by @Account Closed:

@Gene Livingston,

You're right on the money on those cities IMO. Although I live in the Silicon Valley, I'm not sure now is a good time for a newbie to get into our crazy market. Southern California is a nice market, but everything is inflated there too.

@Luke Calhoun, I agree with most of those cities with the exception of Houston. I understand that 38% of the Houston economy is still oil dependent. They're losing 1.2MM sq. ft. of office space annually due to the low oil prices, and they're having 12MM sq. ft. of office space coming on-line. I see more pain for the Houston market in the near future. Of course, it's only one man's opinion based on my research.

@Account Closed, if I were you, I'd go and enjoy life now while saving money for the next downturn when you can buy houses for pennies on the dollar.

Best of luck with your decision.

Minh. Thank you for your reply. How long do you think I've got to next downturn?

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There is plenty of useful information on FHA financing here, but I couldn't find answer to the following question:

Is my first rental property (non-FHA) going to affect my ability to qualify for an FHA loan for my second property?

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If you were to invest into a small owner-occupied multi-family right now, where would it be located?

A little bit of the question background: I'm a recent college grad with a good job in IT that requires 100% travel so my "home" location doesn't matter.

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Hi Jake. I'm down in Sandy and we're looking to purchase our first multi-family this year as well. You're absolutely right about the market being overpriced, but Ogden still seem pretty reasonable. There's been talks about price correction next year. Good luck and keep us posted.

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All Forum Posts by: Account Closed

Account Closed has started 2 posts and replied 5 times.

Post: FHA loan on second property

Post: The Ultimate Location Question

Post: FHA loan on second property

Post: The Ultimate Location Question

Post: Introduction for potential House Hacker in Nothern Utah.