Got the first one now what?

[Cody Ringler]

What's going on guys I recently just purchased my first duplex. I'm going to be house hacking it for the first year. But eventually, I'm gonna need to move on and get my self another property. How would you guys fund another deal within six months? My thought process was, what if I took out a HELOC for another down payment on another duplex? But then I would have to get something that compensates for my mortgage on this duplex that I own now, plus the other mortgage. What are some strategies you guys use to accumulate houses?

[Richie Thomas]

@Cody Ringler what kind of mortgage do you have on that first duplex?  If you move out in a year and rent out the newly-vacant unit, what does your cash flow look like at that point?  Does that one year time period come from the lender, i.e. do you have an FHA loan? If so, could you refinance after year 1 into a regular fixed-rate mortgage, and would your cash flow with the 2 rented units be enough to afford the PMI on your refi mortgage? If so, you could keep getting a new FHA loan on a house hack every year, refi after the year is up, and rinse/repeat. It'd be best if the loan involved a bit of forced appreciation, so that you could combine house hacking with BRRRR and increase your velocity of money.