Updated over 8 years ago on .
Low down payment owner occupied every year, it it possible?
Has anyone had success with buying an owner occupied multifamily investment every year using an FHA or low down payment conventional loan? My plan was to buy my first 5 properties in 5 years using these types of loans but recently I've heard that the banks may not approve loans if they see you are moving to a new property after the minimum occupancy requirement and gathering investments.
This strategy seems to be in line with Scott Trench's recent podcast where he was advocating house hacking until you can gather enough leverage to buy larger investment properties. For me this would allow me to save my cash for the renovations and refinance with at least 20% after a year of fixing up the property.
If anyone in the lending industry could share their experience on whether these types of loans can be secured around the year mark, I would be interested to hear others feedback.