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Updated about 8 years ago on . Most recent reply
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Next steps- personal or investment
Hello everyone,
I am at somewhat of a crossroads and was hoping to hear some practical advice from a more seasoned investor as to my next steps. I will keep it brief with as much information as necessarily however feel free to ask more if needed.
Currently, I owner occupy a duplex with great tenants. I am looking to both purchase a SF home for my family and a non owner occupied triplex investment.
Once I move out of my current duplex and rent out my half, the property will Cashflow with a healthy profit. The triplex i would eventually buy would have to cash flow from day one to make sense.
My question is now regarding my next steps. Should I be focusing on buying a home to raise a family or the investment property first?
I have enough liquidity for both however my concern is that a lender may not approve me for a SF should I buy the investment property first. Is there any rules of thumb, etc I should be following here?
Thank you