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Updated almost 8 years ago on . Most recent reply

User Stats

18
Posts
6
Votes
Daniel Lopez
  • East Hartford, CT
6
Votes |
18
Posts

East Hartford Home Owner (FHA), interested in rental property

Daniel Lopez
  • East Hartford, CT
Posted

Hi BiggerPockets CT members,

Need some advice. I'm currently a single family home owner in East Hartford and financing via FHA loan. I am new to BiggerPockets and motivated in investing in Multi-Family properties. Currently don't have a large amount of money saved for a 20% down payment for a conventional mortgage. I want to rent out my current home and House Hack a multi-family home. I refinanced my home this past July with another FHA loan to lower my monthly payments. I feel like I'm stuck in my primary residence and won't be able to use an FHA or 203 loan to invest in a multi-family home. Should I give up on my current home and sell it so then I can use another FHA loan for the investment property? Any help you guys can suggest?

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