Non-FHA Financing for Multiple 4-Plex Properties

[Robert Taylor]

I would like to acquire a 4-plex a year for the next several years to build up a portfolio. I am planning on doing FHA for the first property. I am willing to move once a year to make these owner occupied financing. My loan officer is telling me that the lowest amount I can put down for a 4-plex in non-FHA financing is 20% for a conventional mortgage. That seems high when investors are only required to put down 5% more. Are there other options we are not considering?

Thanks!!

[Angela Yan]

I love your idea but depending on your market you are looking at, most FHA offers doesn't stand a chance right now due to how competitive things are going. I had my 4 plex and 9 plex on the market and got 14 offers. FHA offer i threw out immediately. Doesn't matter that offer gave me the moon, FHA has their own set of rules and standards of what they think is a comp. Once a property doesn't meet it, it is scarred in FHA world. I won''t come to closing and my place is back on the market. Cash is so king when it comes to 4plex properties. I think there are some great SFR with flippers dropping in prices. Perhaps maybe house hack every year with primary residence? love the low rates.