Good afternoon,
I am in my mid twenties currently living in Pompano Beach FL, working in Boca Raton looking to purchase my first home in south Florida (broward/palm beach) in the next 6 months. I plan on living in this home for 1-3 years then renting it. I have not yet contacted a realtor or lender, I have a good income with a fico score between 735-750. . My three options are: 1) Condo/Townhome 2) Single family home 3) Duplex/triplex(live in one of the units). My concerns are 1) what neighborhoods should I look to buy in my area and what neighborhoods to avoid? 2) which property type is easiest to rent and offers the best ROI. 3) should I put 20% down or do a 3-3.5% down program and pay PMI? 4) are there lower down payment programs for multifamily homes? 5) when looking for a mortgage is it best to go through a mortgage broker or individually through credit unions and other lenders? 6) How can I find a realtor that specialize in the property type I am looking for and can estimate rental potential? 7) Should I have the realtor exclude listings from the same broker? 8) If getting a condo or multifamily home, is it better to get a single bedroom or multiple bedroom? which is easier to rent? 9) What questions do i need to ask places with an HOA? 10) is a shortsale worth the wait?
I am looking for any and all advice, tips, ideas, criticism, or help I can get. Thank you Thank you Thank you
