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Updated over 1 year ago on . Most recent reply

User Stats

7
Posts
4
Votes
Brady Ingledue
  • Rental Property Investor
  • Gilbert, AZ
4
Votes |
7
Posts

Question about getting a second mortgage and short term rentals

Brady Ingledue
  • Rental Property Investor
  • Gilbert, AZ
Posted

Hi BiggerPockets people!  I currently own a 2/2 condo that I have rented to a buddy for about a year while I have been renting *shudder* a house.  Both of our leases are up in about 6 months and my plan is to buy another condo to move into (for a year and then rent it out, rinse and repeat) and try short term rentals with the existing one.  Would I qualify for another owner-occupied mortgage?  Do I have to show that I could afford both mortgages even though I plan on doing short term rentals with one?  For context, I make over six figures and have great credit.  Any insight would be much appreciated...thank you!

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