All Forum Posts by: Vince Char

Hi All,

I have been talking with an agent and got pre-qualified. I am now trying to find good deals, but everywhere I look on websites like zillow or realtor.com the houses are not great quality. I am looking for small multifamily properties. Any tips on other ways to find leads other then an agent and typical websites?

This is all very helpful and thank you for your help and advice.

Hi Ashley,

Thank you so much for your response. My follow up question would be, if I have enough capital for the higher upfront payment using a conventional loan from the start, does it make sense to use a conventional loan from the beginning rather than FHA for a year and then refinance? Again thank you for your incite.

Hi All,

I am brand new to the bigger pockets community and real estate. I want to get involved in rental properties. Just wanted to ask a question to a hypothetical situation. If I were to house-hack and purchase a multifamily home and stay in one of the units, is it a wise decision to use a FHA loan to purchase the property? I understand that you only need a 3.5% payment upfront, but I have read the monthly mortgage insurance payments are high and the interest rates are higher. I would only live in the property for a year to meet the loan requirement and then rent out the last unit. Is it worth using the FHA or does the mortgage insurance and higher interest rates make it not worth it? I have also read that you can FHA Streamline Refinance when you move out of the property, but not sure how that works yet. Any input would be much appreciated. Glad to be apart of the community and apologize if I am misunderstanding any of the real estate concepts I brought up.