All Forum Posts by: Johnathan Alvarez

@ Charlie DiLisio

So I'm getting the idea that using an FHA loan more than once without job relocation, or family size increasing is nearly impossible? Why start with a duplex? Wouldn't a 4-plex be more profitable, if proper speculation before purchasing the property was taken into consideration?

@ Eric James

Well that's unfortunate. Isn't there a certain way to kind of "cheat" the FHA system by downgrading from a 4 plex to a single family home?

@Jesse Stephenson  

That sounds like a really good idea, although, once the tenants are in the property, what would I have to do to lawfully get them out of the property while I renovate them. What's a cash out re fi? I know it's a refinance but what would that do for the property?

Hi BP, my name is Johnathan Alvarez. I was wondering if it was possible to use an FHA loan to buy a 4-plex, live in it for a year, and downgrade every year to a triplex, then duplex, and single family home to take full advantage of a low down payment on rental properties. If it's not possible, what are some creative financing ideas you all might have that might be useful to anybody looking to build a sizable real estate portfolio as soon as possible? Thanks in advance!