All Forum Posts by: Richard Roberts

I agree that I will never be able to time anything perfectly. One huge obstacle I am facing is the lender I am working with approved me for an FHA loan. I am having difficulty finding a buyer with a multi-family home, instead I am hearing that they do not want to deal with the "nightmares" of selling to an FHA loan.

This has thrown a wrinkle in my initial plan. My realtor is telling me that a single-family home will be much more smoother and I will likely find a better price. Is this the case? Would building equity into a single-family home, then taking a loan on the equity to get into a duplex be wise? 

I am looking to purchase my first duplex (which is also my first home purchase) and I was curious if I should wait for the recession to take a hit on the market. I am located in Raleigh, NC so the real estate market here is inflated heavily due to the volume of new movers (including myself). I started thinking how much I would want to kick myself if I purchased a property now but could've waited and got it for possibly ~20-40% less (just a quick estimate). My thought process is that I could wait and get possibly a better property for cheaper but a caveat to that is I don't know how long I would be waiting.

I was wondering what were the thoughts of the more experienced investors who have went through the recession period and their first time buying. I am currently renting and what I am paying in rent would roughly be my mortgage payment.

I am currently 25 years old and actively working to get into REI. I have already started my long, never-ending path of learning by diving into educational books as well as reaching out to my somewhat small network. I am particularly interested in rental properties as well as commercial real estate later in the future.

I am currently shopping around for my first rental property (duplex) which will double as my first home purchase ever. I am very excited to start walking down this path and hope to learn from everyone in the community.

My name is Richard and I am both very new and eager to begin my real estate investing career.