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Updated over 4 years ago on . Most recent reply

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18
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Paul Lee
  • Rental Property Investor
5
Votes |
18
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FHA 3% down for first "home"...and then onto forever home?

Paul Lee
  • Rental Property Investor
Posted

Longtime lurker here. I love Bigger Pockets for teaching me a lot of things real estate investing related.

We are in a fortunate position to have a sizable down payment for our potential forever home. However, we also want to start our real estate investing journey. Curious to hear thoughts (criticism welcome as well) on doing the following:

  • Use an FHA loan with 3% down to purchase our first home
  • BRRRR the first home
  • Then use a conventional loan with 10% down to purchase our second forever home

Assuming my job is stable and we purchase within our means, is there anything preventing this? Or anything I should be aware of?  I think this would be a great way to get my feet wet with real estate.

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