FHA for now and the investment loans

[Sesha Bhojanapalli]

Hi, I am a newbie; I have saved 150K and want to invest. Please let me know if my steps would work:

1) I get investment properties (with 20 or 25% downpayment) and then I get a FHA loan on a fourplex property (next year) and stay in one of them (this will be property in the state where I live - NJ) --- main question - will I get a FHA loan (assuming I meet all the criteria and have saved up 3.5%) if I have investment properties bought just a year or so early?

[Andy Eakes]

Yes. I would confirm with a lender to be 100% sure, but people use FHA to build their portfolios year after year. Once you refi to that conventional loan, you can start over. The major key with FHA is that you live there in at least one unit for a year minimum.