I am wanting to sell my house and buy a duplex where me and my family can live in for temporarily for tax purposes. I also am looking to invest in another duplex with a coborrower. Is it wiser to make sure I get my duplex first and then be on the lookout for the next duplex with my coborrower or does it make a difference.
Thanks for asking. I have pulled equity and have about 25000 in the bank to try to help buy properties. Part of my thinking was that now that I refinanced my mortgage payment would be the same amount the renter would pay rent on it, so I would be a little scared having a mortgage payment sitting until I find a renter as opposed to being all in on a duplex. I guess what your asking g is part of mybdillema of what to to as a first time property investor.
Investor · Boise, ID · Member since 2014 · 3k+ posts · 3k+ votes
7y
Any time you can acquire a property legitimately as an owner/occupant, you should. You'll get better terms on the acquisition and much better terms and leverage when you cash out to purchase another property.