Reconsider Rental Properties

As another choice, buy a duplex, triplex, or fourplex. As noted, live in one of the units and you still can take advantage of a relatively low down payment. Again, here are examples of maximum FHA loan figures for these properties.

Lowest Cost Areas Highest Cost Areas

Duplex Triplex Fourplex

  • 256,248 $309,744 $384,936
  • 464,449 $561,411 $697,696

If you buy a two- to four-unit property, you won't have to qualify for the loan using just your monthly earnings. The rents that you collect from the property also count. Because the first home I bought was a fourplex with an additional detached carriage house, I enthusiastically endorse this multiple-unit approach to property ownership. You gain both a home and an investment. You build wealth faster.

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