FHA Strategy
Hi friends,
I have a quick question for the portfolio builders. I'm in the market for a new house to occupy, already owning and renting one out of state. The mortgage companies balk at the idea of my rental because I bought it a year and a half ago, so they've approved me for an FHA loan, and will not consider a conventional loan.
My wife and I are planning on our next purchase being a long term rental, after we save money for another down payment anywhere from six months to a year down the road.
I know that FHA rules kill cash flow on rentals. What is another possible strategy that utilizes an FHA loan, that makes money in real estate - if it's not buy and hold? What are some other ways I can play the cards I've been dealt?