I am a 23 year old who is extremely interested in RE Investing, specifically multi-family properties in the Spokane area.

I am going to start investing in single family and multi-family homes.

The stopping point, though, is that we can't decide if it would be more beneficial to buy and sell via a lease option, try to house hack, or get into multi-family residents?

I'm sure this is a common question with house hackers, but I currently have my first multi unit in a rehab.

Wondering if it is possible to use an FHA loan for multi family units in Southern California?

Wondering if it is possible to use an FHA loan for multi family units in Southern California?

I was just wondering if I’m able to use an FHA Loan as a first time buyer for Multi Family Units in Southern California?

The same listing agent had the contract for both parcels and had a huge sign advertising the parcels for sale.

Total Insurance Estimate $ 262.50 Current rent $ 800.00 $ 9,600.00 $ 10.40       $ 21.88 Less: vacancy allowance - 10% $ 40.00 $ 480.00         Net Rental Income $ 760.00 $ 9,120.00   Property Taxes 2.5264% $ 505.28 Plus: Other Income $ - $ -         Total Income $ 760.00 $ 9,120.00 $ 9.88                 EXPENSES         Property Management $ - $ -         Repairs & Maintenance $ 100.00 $ 1,200.00         HOA $ 250.00 $ 3,000.00         Advertising & Legal         Insurance $ 167.00 $ 2,004.00 $ 2.17         Total Expenses $ 517.00 $ 6,204.00 $ 6.72                 Net Operating Income (NOI) $ 243.00 $ 2,916.00                 Less Debt Service (PI) $155.06 $ 1,860.72 $ 2.02         Less Property Taxes $ 42.11 $ -                 Net Cashflow $ 45.83 $ 1,055.28                 Operating Expense Ratio 68.0% (Total Expenses/Total Income)               MORTGAGE INFO         Total Loan Amount $ 20,000         Type of Loan Seller Financed         Term (Months) 240         Interest Rate .07         Down Payment $ 2,000 10.00%         Monthly Payment (PITI) $155.06                 Purchase Price $ 75,000         Closing costs $ 3,000         Rehab $ 7,000         Total initial investment $ 85,000                 LTV 27% Loan Amount/Purchase Price         Cap Rate 4% Annual NOI/Price         Cash-on-Cash Return 146% Annual before-tax cash flow (i.e., NOI)/Down payment    

I would invest in Multi-family on my own and invest in a syndication as well.