All Forum Posts by: Pearson Wade

Thank you @Jennifer Wilson and @John Powell for your advice! It looks like I will start by figuring out what my financing options are. I will start with a broker I know personally, but I might head your way to seek other lending options as well. Thanks!

Thanks for the advice @John Powell and I will let you know if I end up going that route! I'm interested in a property somewhere within the FWB area, meaning west of Eglin, east of Hurlburt, and north of Okaloosa Island. I haven't narrowed down a specific neighborhood yet, so I'm researching that as well. I currently rent north of Green Acres road, and I like living there, but I heard that flooding is a major problem so I'm really hesitant. On another note, one option I also would like to know more about is the 203k loan. I'm assuming there are a good number of worn out properties in the area that just need a little TLC to attract renters and raise rent prices.

Hey guys,

So I just graduated school and started my first full-time job as an engineer. I've been doing more and more research and I have decided that I want to buy a plex (2, 3, or 4-unit) sooner rather than later. I would love to take advantage of first-time home buyer type programs, and other benefits for this first purchase, especially because my income is lower now than it probably will ever be. I would really like to start with a plex and live in one of the units, so the challenge is finding the right deal provide a positve cashflow. I would plan on using a property manager because my passion is my own career, and also because I will spending a good amount of time away from the area over the next several years. The ideal time frame to buy a property would be this summer (June-ish 2019), but if it didn't work out, I would hold off the following summer (2020). I reside in Fort Walton Beach, FL.

This is my situation, and there are certainly many variables to consider. If you have any thoughts or advice about financing, property managers, or mulit-family properties, let me hear it! Also, feel free to ask any questions. Thanks!