Creative Real Estate Financing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 8 years ago,
Getting an FHA loan on an additional property
I'm hoping I can run this scenario and get some guidance. I currently have two open conventional mortgages of which one is my primary residence, the other is a rental property that was formally my first home. My job requires me to spend two days a week in Greensboro, NC. I'm looking to purchase another investment property, preferably a multi family without tying up all my resources on one deal I thought it might be possible to purchase a multi family in Greensboro since I will be commuting there weekly for work and staying in one of the apartments and renting out the remaining and financing this through an FHA loan. From what I have researched it seems this is possible being that I would be commuting over 60 miles from home and would just have to stay in one of the units for a year before renting? Anyone know anything about doing this and if it would be possible? Maybe someone could point me in the right direction of a good investment realtor in the Greensboro area as well?