What was your "next step" after first FHA house hack?

[Ellie Narie]

Do you need to wait until you have 20% equity to refinance into an investment loan? Or can you refinance right away after you live there for a year, without having that 20% equity?

How do you proceed to do another house hack after a year if you don't have 20% equity?

[Ellie Narie]

Originally posted by @Jonathon N.:

I would deff recommend refinancing out of that FHA loan because if they find out you are no longer living in that property and are using it as a rental a due clause will be called and the entire amount of your mortgage becomes due!!! Be careful and good luck! I know there are places out there that offer only 15% down for an investment mortgage.

You only have to live in it for a year. But you can't get a second FHA loan if you already have one, that's why I am wondering what are the options to refinance it.