All Forum Posts by: Tim Vander Ploeg

sounds like the answer is no, but if you want to risk getting caught you can try.... I got a wife and 2 kids, I don't think that gamble is for me... thanks for the quick reply 

So I am new and looking into my financing options. My question is if my wife bought our house before we got married, and I am not on the mortgage would I be able to buy a duplex on a FHA or 203 loan. Say I live there and rent both sides?

I'm leaning towards fix and flip because I can get my hands dirty and it would give me cash for other investments. But I don't know how hard it would be to find and finance the whole project... It looks to me that getting a rental might take less upfront cash, but like I said I'm just learning so I may be very wrong... The duplex idea is interesting to me but the wife would not go for it so I would have to rent both sides and stay in my current house. So I guess my first hurdle would be what can I finance with little to no cash.

Hello my name is Tim

As the Title says I am an electrician (apprentice 4 years) in the Detroit area (Dearborn). I have had an interest in real estate investing for a while, and have done some work with new construction and flipping houses. I was talking about my interest in real estate with a co-worker and he referred me to this site for a good starting point to begin doing some real research on how to get into the game. 

I have just begun to read the beginners guide, and know I have a lot of research to do before jumping in, but wanted to introduce my self and see if anyone could point me in a good direction to begin (even if that advice is wait, or don't do it).

So my financial state is currently is not great but I am working on building up available cash... At the moment I have about 2k cash, another 10k i can borrow against my annuity, or possibly borrow money from family ( but am trying to avoid that, if possible) 

What I am hoping to hear back would be either 

1. A good starting point for me

2. Good books, or articles to read

3. Good places to find flip house. (realtor.com doesn't seem to be full of good deals...) 

I may be able to help with electrical questions, especially if you are in the Detroit area (Code will be the same, and if need me I can look at it)

That being said thank you in advance for your help and information