New to the forums! -Kaitlyn Beard (Texas/Military)

[Kaitlyn Beard]

Hey!

I have followed BiggerPockets for quite some time now but this if my first official forum post that I have typed up! My name is Kaitlyn Beard (I go by Keeks) and am in the Air Force. I am in Texas, stationed at Dyess AFB. At 19 years old I bought my first 5/3 home and started house hacking. In other words, I rented out the rooms and the tenants/roommates covered the mortgage. When I discovered what rental properties were and how it is not rocket science to obtain them, I found the right lender who allowed me to get another loan. Keep in mind that I used 2 0% down VA loans for these homes. The second one I am in I also house hack so my mortgages are both paid for. I am now wanting to get another property but do not necessarily have enough cash yet to put down 20% on an investment home (conventional). As of now, I think these are my options. What do you guys think???

Option 1:

I get an FHA loan at 3.5% and find a 2-4 door multifamily and continue house hacking.

Option 2:

This one I did not know I could do until today, unless I can't? It is just what a friend and fellow investor told me their lender said. (I'll be fact checking it with the same lender this week). I was always under the impression that a conventional loan is anywhere from 15-30%. My friend, Ryan, told me I should get a conventional loan at 3-10% down. Yes, I would be paying PMI, but my current house I live in is too big for me and my roommate. I need to run the numbers based off a prospective property I find, but if I got a smaller house I think it would be doable. Don't worry I'll be doing some math!

Option 3 (a little unsure of this one):

HELOC because of the $80k+ in equity I have in my first invested home. Part of me thinks this will disturb my cash flow but I guess not because then I would be able to invest in 2 single family homes with 20% down on each.

What do you guys think?