Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 01-12-2014, 10:52 AM
 
12 posts, read 33,149 times
Reputation: 10

Advertisements

I'm not a home owner yet, probably looking to buy some time soon and also trying to understand buying a townhome or condo as investment property.

Questions:

If I buy single family home first? then would I be able to get loan as investment property? I understand it depends on my credit history and other aspects.

Are there any advantages buying investment property first and then buy single family home?
Reply With Quote Quick reply to this message

 
Old 01-12-2014, 11:23 AM
Status: "Open for work" (set 9 days ago)
 
Location: Just south of Denver since 1989
11,822 posts, read 34,355,412 times
Reputation: 8950
If you buy a home to live in, then later buy a new home to live in - renting your first place out, you may get better terms for your new loan.
Reply With Quote Quick reply to this message
 
Old 01-12-2014, 01:34 PM
 
Location: Southern California
4,453 posts, read 6,781,028 times
Reputation: 2238
Quote:
Originally Posted by kvnsk View Post
Questions:
If I buy single family home first? then would I be able to get loan as investment property? I understand it depends on my credit history and other aspects.
That is how most people do it, there must be something else missing out of your question. You'll need the income to qualify buying both places without consideration of rental income.

Quote:
Originally Posted by kvnsk View Post
Are there any advantages buying investment property first and then buy single family home?
Simple answer, yes, but the hard part is finding an investor to lend you the money. Just because it is an investment property doesn't make it a good investment.

You can buy and owner occupied home, flip it for some money and buy an investment property and be a renter if you want, I think that is your desired results

If have rental property on you tax returns for 2 years , rental income will be consider differently.

If you have owner occupied home and don't have a lot of equity in the place, it will be hard to count income from the property, so your income to buy another place will be solely on your income and not rental.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Similar Threads

All times are GMT -6. The time now is 03:03 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top