Updated about 9 years ago on . Most recent reply
Need some Help! Newbie Investor
Hi BiggerPockets CT members,
Need some advice. I'm currently a single family home owner in East Hartford and financing via FHA loan. I am new to BiggerPockets and motivated in investing in Multi-Family properties. Currently don't have a large amount of money saved for a 20% down payment for a conventional mortgage. I want to rent out my current home and House Hack a multi-family home. I refinanced my home this past July with another FHA loan to lower my monthly payments. I feel like I'm stuck in my primary residence and won't be able to use an FHA or 203 loan to invest in a multi-family home. Should I give up on my current home and sell it so then I can use another FHA loan for the investment property? Any help you guys can suggest?