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Updated over 5 years ago on . Most recent reply

Felix Torres's profile image
Felix Torres's profile image
Felix Torres
  • from Chelsea, Massachusetts
  • Member since Nov 8, 2016
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Felix Torres's profile image
Felix Torres's profile image
Felix Torres
  • from Chelsea, Massachusetts
  • Member since Nov 8, 2016
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Felix Torres
  • Chelsea, MA
8
Votes |
53
Posts
Buying & Selling Real Estate

How to get a second home when you’re still under FHA

Felix Torres
  • Chelsea, MA
Posted

Hi Everyone,

I want to purchase a second home and use my current as a rental. 

The only thing is, my current home is under FHA.

Can anyone help me figure out what my options are?

Thank you,

Felix 

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Jaysen Medhurst's profile image
Jaysen Medhurst's profile image
Jaysen Medhurst
  • Rental Property Investor
  • from Greenwich, CT
  • Member since Aug 18, 2015
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Jaysen Medhurst's profile image
Jaysen Medhurst's profile image
Jaysen Medhurst
  • Rental Property Investor
  • from Greenwich, CT
  • Member since Aug 18, 2015
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
Replied

@Felix Torres, as long as you spend 1 year in the current (FHA) house, you're fine.

Have you run the numbers on your current house? Will it actually make a good rental? Might be hard with so much leverage.

  • Jaysen Medhurst
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