Investing with FHA, Conventional loan, I'm confused...

[Elvis Sosa]

I apologize in advance, I'm new here.

So I know somewhat when it comes to real estate and the types of financials needed, I'm still currently reading the ultimate beginner's guide that BG provides as a refresher. I keep reading and hearing the creative ways to finance an investment property. I would like to do rentals, but I don't want to be living in them at first. For example, If I choose FHA or conventional loans, those two have a requirement to live in the house for X amount of years.... I feel like that would kill my BRRRR. How do you as investors do it? Or started. I'm based in Orlando, and work for a major airline as a flight attendant[29 years of age]so I don't have big amount of money but i have some more than average(I would like to think)

[Stephanie P.]

Originally posted by @Elvis Sosa:

Originally posted by @Jeff Ronningen:

@Elvis Sosa. Elvis, haven’t you read about house hacking? It’s a great strategy to get started and start building a rental portfolio. The big advantage is by buying as an owner occupant you get more favorable loan terms, such as lower down payment. If your investable funds are such that you’re not prepared to put down 20-30% on an investment property, this allows you to buy sooner. For the second property either save up 20% or more down payment or wait until the occupancy period is past. For some loans I think it’s only one year. However even for investment properties you have a seasoning period of 6 months before you borrow against the full value. Bottom line, don’t let this stop you.

*sighs* I won't just want to keep the dice rolling as much as I can. Thank you for your response and advice!

 I don't understand what your response to the poster above means.  House hacking is one of the best ways to get started.

Buy a duplex or quad (the best) and then live in one of the units. Use the lender's FHA 203K to renovate the property to your standards so you don't waste your money. Then do it again next year. Your job lends itself to buying houses all over the country.