All Forum Posts by: Robert Johnson

Hey guys, I'm new to the real estate game and a single person with a day job as a park ranger. I bought myself a SFH last year and really enjoy the lifestyle of my own space, but want now I want to make a jump to small multis. I'm really interested in the FHA 3.5% down loan on 4 plexs and stay a year and move again.

One of the big issues with my career is that I move around a lot (normally not in an area more than 2-4 years). Because of this I have learned to despise moving and resettling in a new place since I have to do it so often and I don’t like the idea of doing it every single year moving around town.

Also seems like it would cut into the profit. So I had a thought today about possibly buying a smallish travel trailer/RV and making my home in that (very common for people in the career). I was wondering if it is legal to still use the FHA loan on a property if I don't live specifically in the dwelling?

I’m thinking I’d look at a property with a larger lot and build a pad and little private area for myself and rent out the full dwelling.

Any thoughts on how this could possibly work?

@Nicholas L. Thanks for the advice! Turned out to be that my taxes we substantially lower than they expected from me and that was just the surplus. Not a large mortgage only 108k so to get that much back was a little surprising. Also I plan to take those out as soon as I’m allowed to! My lender wants me to keep escrow until I reach 20% down.

I was got my 2019 T&I disclosure for my primary residence which I bought last May. The disclosure said my account had a surplus of about $4,000. I’m happy to get my money back, but I wanted to know if anyone has ever seen a surplus this large before held in escrow? I don’t want to start making plans (or worse spend the money) for them to come back and say it was an accounting error and I have to send it back. Thank you all in advance!