House hacking 3-4 units multiple times? Best way to do it?

[Clayton Hepler]

Hello, I have an FHA 203K loan that I closed last year in July on a 3 unit. I would like to house hack again with another conventional loan on a 3-4 unit. Any suggestions on what type of loan I could get that has a construction component with it and also has a low down payment? It seems like the convention 97 is ruled out, because I don't qualify. Also, it seems like some lenders would look down on moving into another investment property in the same neighborhood to house hack after 1 year? Who has had experience doing this?

[Matthew Brill]

Your best option I think is to refinance the current property to a conventional loan if you have 20% equity from forced appreciation from the rehab. You can then reuse your FHA/203K. If not, you will have to check out local banks/credit unions to see if they have any special financing programs for purchase that includes a construction loan.