I'm ready to buy my first home.
Hello Everyone,
I am relatively new to BP as I only started listening to BP podcasts about a month ago and been trying to learn as much as I can about real estate investment. My goal this year is to buy my first duplex or home+in-law whichever i can find at a good price. This would be sort of a house hack as I'll be living there with in-laws in the other unit. Within a year or two i'd like to buy a 3-4 unit rental property but i'm not sure how that would work. My question is, should I take out another loan for the second property and will that really hurt my credit? Also, how many loans can one take before the banks say no more? Should my second property be under my name or some other name?
I know i'm probably thinking too much down the road when I haven't even purchased my first home, however I want to be sure I'm not making a mistake now that could possibly affect me and my family later on.
Any help/guidance would be much appreciated :)
Walt