Updated over 5 years ago on . Most recent reply
Reference Material & Contacts Within the Industry
BP,
I've been lurking around for a fair amount of time and the material I've taken in here has helped me to where I am now. I purchased my first home in late 2018, and have been "house hacking" since day one. Never missed a payment; loan originator has already sold it to another bank.
Since then, I've moved up in my company with a decent increase in salary. I'm now wondering if I'd qualify for another primary residence mortgage if I move into the next property, and repeat the process (and thereby turning my current/first home from my primary residence to a Schedule E rental property).
How would I go about doing this, or where I can find out more info? Google and YouTube haven't gotten me anywhere over the last week or so - too much irrelevant info and I've yet to find anything specific on this particular situation.
I'm located in the Los Angeles/Orange County area (California), and would be seeking to buy another property out there - any advice or even leads to knowledgeable loan officers would be appreciated.
-Jared