House hack without FHA

[Billy Thurston]

Good day REI's

I am new to the game and trying to figure out how to finance my first deal.

Buy and hold rental is my preference.

I purchased my primary residence in June of this year with an FHA loan.

I do not have the capital to purchase investment property at 20% down.

Here is my thought. After 1 year in my FHA home. Can I then rent out that home and purchase an owner occupied duplex/triplex, with a better loan? (Less than 20% down), and house hack that property? Is there conventional financing that would do less than 20%, outside of FHA, since I already have an FHA loan? I want to avoid hard money.

All thoughts and opinions appreciated.

Thanks in advance.

[Bryan O.]

@Billy Thurston make sure and check around first. FHA allows 1-4 units without any issue. Many of the other owner-occupied products only do the low down payment if it is a single unit. Call around to a few banks and ask them. If they are too hard to find then you can possibly refinance your FHA to normal, then go buy another on FHA.