With an FHA loan do I tell them I will be moving out in a year?

[Kari Wiederrecht]

Hello, I am a newbie investor interested in getting an FHA loan and doing house hacking. I would like to be able to rent out all units in a year, but when I am getting the loan do I tell them my plan to move out in a year or do I need to pretend that it will be my personal residence for a while? And is this the same for a conventional loan? Do I need to be up front about my goals to be a real estate investor or do I just pretend to be a home owner who is interested in getting some extra cash from my other unit/units?

[Alecia Loveless]

@Kari Wiederrecht Sometimes less is more. The less you say the better off you are. Just like it’s best not to tell everyone everything you’re doing, let them see for themselves once you’ve accomplished it. People are often envious and mean spirited and down right nasty. Why would you give them the opportunity to know what you’re doing. Need to know basis.