things-to-know-before-buying-your-first-investment

Ask David ForumCategory: Buying My First Propertythings-to-know-before-buying-your-first-investment
Dallas Schwab asked 1 month ago

Hi David, Maybe you can help me out here. Just read your article about buying your first investment property. I’ve thought about it because I want to do something along these lines, but I have a concern with this scenario. When you get your first 14k saved up, that gets you your 3.5% down for an FHA loan on the 400k. But when you go to buy the second and third multi family unit(s), you’re talking about using another 14k down like the first one. However, my understanding of FHA lending is that you can only have one FHA loan at a time, except under certain circumstances (moving for work, family outgrew current home, etc) so what is your workaround there?   Thanks, Dallas Schwab