All Forum Posts by: Michael Hawkins

Hi Richard, 

I'm a big fan of multi-family, and here's why. FHA / VA financing programs are available on 2-3-4 plex properties as long as you occupy the property for 1 year. FHA down payment of 3.5%, in multi-family properties your tenants basic pay for some or all of your mortgage if you live onsite, and many other advantages. Certainly, many factors to consider, just need to find the right property that meets your financial goals. My best advise, treat investing like a job, get your financials in order before speaking to anyone. Talk to a lender, be prepared to move forward when the right property presents itself, if not, someone else will. Good luck to you!!!

My first real estate purchase ever was a single family residence in Tempe, Arizona when I was 22 years old. The house needed to be gutted due to age and cats....ugh!!! On closing day I was $150 short for closing, borrowed $200, then lost my keys at signing that cost $50 to replace....Ahhhh...memories....First renters moved out in the middle of the night, next one stayed for 4 years. Sold the property for almost double the value after 5 years. What an education...........:-)

I'm really happy to be a part of this site.  My goal is to learn from others and expand my network of friends. I currently sell multi-family properties in the Phoenix market, however hearing how other markets are performing and how investors are perusing those areas really is of great interest to me.