All Forum Posts by: Account Closed

Trenton, talk to @Logan Allec who is here on Bigger Pockets to get his thoughts. He recently purchased a fourplex not far from Canyon Country and it's worth learning from his experience!

Thank you Vanessa! I will shoot him a message and see what I can learn from him.

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Originally posted by @Jeff Rabinowitz:

You certainly don't have to own a home before investing. The best thing about owning your own home from an investor's point of view is that you get to learn how houses work and what maintenance they need.

If the $120K won't buy much where you live you can buy somewhere else. If you go that route make sure you connect with locals in the area who you trust implicitly because you will be relying on them to advise you on major decisions.

Thank you, Jeff. I will take that into consideration. If you will allow me to pick your brain, I was under the impression that investment out of state for a first deal was a bad idea?

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Originally posted by @Jon Huber:

@Account Closed Why not both? You hear a lot about "house hacking" here. You can use an FHA loan to purchase your first house, and have it be a duplex, triplex, or quad. Rent out the other units and live for free. It's just an option...

Hi Jon,

Thanks so much for the response! I have heard about the FHA loan option in relation to duplexes and multi family homes. However, I don't think that this option will be feasible because I am in the SoCal area and I am only eligible for about a 120k loan using standard financing options. Are there any other options you might have in mind for me to dip my feet into the REI pool? 120k in SoCal won't get you much.

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Hi BP members,

As I am new to this site and attempting to suck up as much information as I can, I had a quick question! Is it advised to own your own home before you begin investing in a property?

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Hi BP members!

I have scoured the site and used the search function a few times but I haven't been able to find an answer that fits my specific situation. I would love to get started in the REI field by purchasing a property between 100-130k in the Palmdale/Lancaster area of SoCal. The caveat is, I don't have money down and I don't plan on living in this property as it is a condo (which rules out FHA loans). What are my funding options?

On another note, what books do you all recommend I read in order to learn more about funding investment properties?

Any answers would be appreciated. Thanks!

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All Forum Posts by: Account Closed

Account Closed has started 4 posts and replied 15 times.

Post: Own a home before investing?

Post: Own a home before investing?

Post: Own a home before investing?

Post: Own a home before investing?

Post: Best option to fund a buy and hold