Can you still invest in property when you still have a mortgage?

[Quynh-Chi Nguyen]

Hi

Basically, I am wondering if all of you investors out there own your personal property outright before starting your RE business?

I am still very new to this. I am still learning and doing my homework first before starting anything. In any case, I do have some cash to start with the business but at the same time I still have a mortgage to pay for own place. My place is currently underwater. No equity at all. It went down hill after I bought it in 2006. 

Thanks

Chi 

[Scott Christensen]

Hi Chi, Yes you can. Typically you can have around four conventional loans. I currently have two and one of my units are under water as well. Have you considered renting your current unit out and purchasing a duplex/triplex and living in one of the units, while renting out the remaining ones as many of the members on BP have suggested? Learn as much as you can and pay close attention to calculating expenses.