1st Investment Scenario

2 Replies

Is there such a situation, where an investor would invest in your first income property, if you have an FHA loan?

I understand that you have to live in it for a few years, so that's what makes me curious, if this is even of benefit to an investor. 

We have a FHA 203k loan on our multi-family home. Yes, it must be your primary residence and you must live there for a required period of time. We are now at the point of refinancing to a conventional loan to get rid of the manditory mortgage insurance and purchase another multi-family property with a FHA 203k loan. I believe you can do this type of loan up to 7 times. There's alot of paperwork, but it's worth doing.