Hi BP members,
I'm just starting out and had a question about FHA loans. I've been reading about how some investors fund their properties on FHA loans and live there for a year before converting it to a rental. Does anyone have any experience with this? If you do it too many times, will you eventually max out your debt and not be able to get another loan?
Thanks in advance!
You can only have 1 FHA loan at a given time, so its not a repeat situation.
When you go to buy subsequent properties, your rents help to offset the debt payment, so maxing out debt shouldnt be an issue in most cases. 10 conventional loans allowed per person currently.