My girlfriend (22) is a nurse and I (22) am currently in my last year of undergrad for BS in Computer Science. I want to invest in real estate for the purpose of renting or using as an Airbnb to help establish future financial freedom. I'm trying to understand if it would be a wise financial decision if I were to get an FHA loan on an investment property while my girlfriend were to get a loan on another property where we would live.
To provide more context:
- both my girlfriend and I have a credit score above 770
- I have saved and can continue to save enough money to put a down payment on a 250k property assuming the FHA down payment would be roughly 5%
- we do not plan on purchasing a home together for at least a couple years so the investment property would be purchased much sooner (we may even marry before purchasing our own home and I'm not sure how that can affect this whole process)
- assuming we qualify for these FHA loans, the area and type of property my girlfriend wants for our future home would be roughly 600-700k (we live in California🥺)
I'm sure my question reveals some lack of understanding on how real-estate investing works; I'm trying to understand as much as I can, and I have many more questions. If you have links to some informative sites I'd be interested in reading through them.