Buying multiple houses back-to-back
Hi there,
My husband and I own one house in California and are being reassigned to Ann Arbor, MI for the military. We will be renting out our CA house and I would like to buy another house to live in/fix up when we're in MI and rent that one also when we leave. However, I was in the process of potentially buying another house in VT as a short-term vacation rental.
Is it possible to buy two houses at the same time? I would need loans for both, but have money for down payments.
Thanks!
Most Popular Reply
Yes, but your lender will require you to qualify for the total amount of both loans, and one will be a secondary property and the other primary residence. Let me know if you need help shopping – I am an agent and there is a fantastic property right now that would make a great owner occupied residence. You could also generate enormous short term rental income while living there for the big events associated with University, and then you could turn it into a student rental when you move.