All Forum Posts by: Nick Scannell

BP Community,

I'm excited to say that my first Duplex just passed FHA appraisal and I'll be closing in June. Property is a 3bd/1.5 bath / 2bd/1.5 bath 2-floor side-by-side where tenants have lived for 30 and 20 years. We will be keeping tenants on the 2 bedroom side and living in and updating the 3 bedroom side with the goal of buying our second house hack next year.

My question: How do you finance the second property? While purchasing this duplex, I found out that you can't do a conventional mortgage with 5% down on anything larger than a single family, and you can't have more than one FHA. I'm thinking I'll need to start hustling to find a seller financing deal or private money, but wondering if there are other financing options. I read Craig Curelop's House Hacking Strategy, and I don't think he mentioned it.

Thank you in advance!

- Nick