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Updated over 2 years ago on . Most recent reply
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Newbie with duplex looking to scale
Hi BP family, i am a newbie in RE and have acquired a Duplex using FHA. I am now looking to scale and get more rentals (preferably multi family) but I am open to SFR for use on Airbnb. What is the best way to scale? I wanted to refi out of my FHA loan from my duplex to go conventional but I don't know lenders will work with me even though I live in one of the units so its owner occupied as my primary residence. Any advice on what I should do next to scale? Also looking for any mentors or PLs that may be open to working with me.
Thanks in advance!
Most Popular Reply
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@Monte Rice if you have 20% equity and lived in the property for one year, you should be able to refinance your FHA into a conventional owner occupied loan. I would suggest that you call more lenders, to find one that can accommodate.