Dallas-Fort Worth Real Estate Investor Club

Advice on financing (newbie!)

  • 21 Mar 2016 6:06 PM
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    Message # 3899022
    Deleted user

    Hello all, 

    I am considering buying a duplex within the next year or so to live in one half and rent out the other, and was looking for some discussion/advice on how to go about doing so. As a recent college graduate I am still developing my career and savings, therefore I was considering using an FHA loan (either 203b or 203k, depending on the condition of the property). Would FHA be the best course of action to pursue in this situation, or do any of you have any other suggestions/advice on how to achieve this goal? Thank you for your time and I appreciate the feedback!


    Kyler 

    Last modified: 21 Mar 2016 6:06 PM | Deleted user
  • 22 Mar 2016 7:10 AM
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    Reply # 3899922 on 3899022
    Jesus Galaviz

    You can get whatever kind of financing best suits your financial situation, i.e. cash on hand, debt-to-income ratio, credit score, etc.  Call a mortgage broker with investment experience, e.g. Brian Morrison 214-893-8953, to get actionable advice on this.

    I think what you really need is landlording advice.  I've owned a few duplexes for several years.  Let me know if you would like to discuss.

    comanche3000@live.com
    979-450-1994
  • 23 Mar 2016 8:09 PM
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    Reply # 3902799 on 3899022
    Deleted user

    Thank you, Jesus. I will not hesitate to contact you when I need advice in the near future.  
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