@elduplexking: Replying to @steven.a.smlth FHA can be. sgood way for many to buy a home but they do have loan limits as well has higher PMI fees @DuplexKing:RE 🏘️BIZ 🏢 MLO #Elduplexking #greenscreen

Stephen A Smith :

yeah but if you are using a first time home owner you want to generate profit/revenue with your money. Make your money work for you. 1 million 50 thousand can get you literally any tri-plex in the city of chicago. Live in garden unit and rent out the two other units. Use that money to pay mortgage and pmi and utilities. Stockpile money for any emergencies and 4 months of expenses on hand. On top of that theres plenty of cook county and chicago first time home owner grants as well that reduce the down payment even more as long as you plan on living in the place you are buying for 5 years. But pay the minimum, build up equity, refinance and rent increases will grant you more and more cash flow in the long run. Use that cash flow on another property and so on and so forth. I am aiming to have 50-100 units in the next 20 years. the main obstacle is getting the down payment on properties 1 and 2 tbh. Just any 9-5 will do, quit the day job at around 30 units and retire off rental income