All Forum Posts by: Eric Neith

This is my first forum question since I've been a member, so thanks in advance. First off let me start by saying I am a licensed realtor in PA and the properties will be purchased in PA. I am looking to purchase a 4 unit multi with an FHA loan. I know I am supposed to live in it, but I probably wont. After I make this purchase I would be looking to purchase another 4 unit with a conventional loan, with the intent to live in this unit. This is where my questions come in...

Is there a time frame after acquiring the FHA loan to wait to go conventional?

If I occupy this second multi, can I use a 5% conventional loan?

Last off, is this scenario possible?

If not any recommendations to acquire 2 multi families in this fashion with fairly no money out of pocket. The FHA purchase would almost be no money if I roll in closing costs and add my commission. Same with the 5% conventional. I've figured less than $10K to purchase both multi families with this strategy. Thank you!

Thanks Umar !!

Hey guys, I'm Eric from Hellertown, PA, which is about 45 minutes north of Philadelphia.  I have owned a few multi-families in the last decade and have been operating my own business the last few four years and I am ready to get back into real estate investing.  Looking to experience my first flip and learn more in that area of investing.  Looking forward to all the info bigger pockets has to offer!