Updated almost 9 years ago on . Most recent reply
Newbie from Denver, CO!
Hi All!
I am a new investor and I am open to any and all advice that you all may have. I am looking to purchase my first property within the next 6 months. Currently debating between buying an investment property right off the bat and keep renting myself or if I should buy a primary residence first and look into buying a rental property down the road.
I am looking forward to learning from everyone here. If you have any book/blogs/webinars/podcast recommendations (real estate or not) please contact me! I love to read and learn everything I can.
Currently I am reading The Book on Rental Property Investing by Brandon Turner and realizing how much I really did not know about investing! If you haven't picked up a copy I encourage you to read it.
Cheers,
Rick
Most Popular Reply
To follow up on this, I did research this out with 3 of my lenders I work with consistently on investor deals. 2 of the 3 seemed to have no issues with the Nomad strategy but highly recommended you abide by my prior post of moving up in house with each acquisition. Long story short, you're not breaking any regulations or laws as long as you abide by the terms of your note and live there for at least a year. By moving up and describing in a letter to the underwriter what you're doing, you should be able to accomplish this as long as everything makes logical sense.