All Forum Posts by: Ryan Hurd

@Steve Bracero I found my deals off of MLS. I did negotiate for seller to pay closing costs and that was a great way to keep my money in my pocket. I could refinance out of my FHA loan right now. Getting the loan done would cost $3-4K though. Since it would only save me about $60 a month (interest rates are higher now then they were when I purchased) I have decided to keep the $3-4K and not refinance. I am currently saving for my next property. I probably won't get out of my FHA loan unless I someday do a cash out refinance to reinvest in another deal or unless interest rates go down quite a bit.

Here to receive and share information. I have two four-plexes and my girlfriend has a four-plex. I plan on using multi-family housing as my early retirement bus. I am 30 years old and I am motivated to quit my day job.

For anyone looking to buy their first piece of real estate, STOP (unless it is a four-plex with an FHA loan). I did this 2 years ago and it was the best financial move I have ever made. If you start buying other properties you can say goodbye to this opportunity. Use the FHA loan and buy a four-plex with only 3.5% down. It is so much better than putting 25% down (typical for multi-unit buildings). It is the boost that every first time home buyer should take advantage of while starting their real estate portfolio. I purchased mine in 2014 and just helped my girlfriend purchase one this year (2016). If you have questions or input regarding FHA loans for multi-unit buildings for first time buyers post them here.