How Can I Buy a Second Property with Little Money

[Devlin Harding]

I currently own a multifamily that I purchased using an FHA loan. How can I obtain another property without having to save for a year or so to meet 6 month reserve requirements and down payment? I unfortunately cannot use my rental income towards my qualification because it hasn't been two years. Looking for some alternatives, and even better if there are any Massachusetts proffessionals on here that have a good alternative and/or possible collaboration opportunities.

[Shawn Mcenteer]

Have you created any equity in your current property? You may be able to move out and owner occupy a new property as long as you have enough equity to refi out of FHA. Speak with lender but I believe once you have 20 or 25% equity you can owner occupy another property with less then 10% down possibly FHA.