All Forum Posts by: Carnell Mitchell

Thinking about selling my fha financed home to buy a duplex and house hack. Thinking of using a Freddie Mac Home Possible loan first and live there for a year. Then going to get a fha loan on another duplex and do the same thing? So after 2 years have 2 rental properties (4 tenants total). Am I allowed to have a Freddie Mac and fha loan out at the same time?

@Peter Tverdov yea that’s what I was thinking to.. She’s alsothr mother of my son if that helps, not some random. I’m just trying to find a way to purchase the duplex using owner financing.

Yea I plan on living there for at least a year. I’m just trying to figure out should I rent my current home or try to sell it. The only problem is I don’t have enough equity to refinance into a conventional.. Also even if I did, my interest rate is lower than the current rates.

My name is Carnell from Cleveland Ohio and I am new to BP. Im looking for some advice on how to finance an investment duplex without putting 20%-25% down. Unfortunately I bought my SFH before I knew about house hacking strategy. I have a fha mortgage (3.8 interest rate) on my current home that I've been living at for about 16 months, so I fullfilled the owner occupancy requirement. I live with my gf, but I am the only name on the loan. Any way I can use this to my advantage to maybe owner occupy a duplex using her name? Or are there any other ways to get my portfolio started?