Buy more multifamilies or get out of fha

[Brian Alvar]

Hey guys , so I purchased my first home (2 family) in 2019, took me about a year to rehabilitate it, so I moved in 1 unit and got the 2nd rented august this summer.

Im now looking to refinance and the branch manager from the mortgage company suggests to use the equity on the property to refinance out of fha and in to a conventional loan.

I was thinking of doing a cash out refinance to buy another multi family and possibly repeating the process.

Im here looking for opinions or guidance from people more experienced than myself on which approach I should take.

Im 29, and my goals are to keep buying multi family homes, i don’t plan on staying at this property forever , however I do plan on keeping it. I only plan on buying a single family home when I have children and they’re ready for school. (32-35)

I owe 330k and my property was last appraised at 390k

Thank you