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Updated about 8 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Boston, MA
9
Votes |
9
Posts

Multi-Family in Nashua vs. vacation rental in Joshua Tree

Account Closed
  • Rental Property Investor
  • Boston, MA
Posted

Hey everyone! I'm new around here :)

My wife and I are getting ready to make our first purchase but we're torn between our two ideas... but also wondering if it's possible to do both in the same year.

We're moving up to New England from NYC this summer and have been weighing our town/city options. We love the metro-west area but it's pretty unaffordable for us right now, so we think we have landed on Nashua, NH. It seems like the rental market is strong there and there's a decent amount going on. Originally we were just going to buy a single-family for ourselves, but when we saw the options for multi-families in Nashua we realized that that's definitely an option.

On the other hand... we're both in love with Joshua Tree. We've spent a lot of time out there (and lived in LA for a year) and I think the market for vacation rentals there is really strong. Our plan there would be to buy some land and buy a modular/prefab home.

So our big question here is which do we start with and is it possible to do both in the same year (ie. would a lender for the second property be turned off by the first purchase this year)?

Thank you all!

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