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Updated about 6 years ago,

Maurice Blackledge's profile image
Maurice Blackledge's profile image
Maurice Blackledge
Pro Member
  • Rental Property Investor
  • from NC
  • Member since Sep 17, 2018
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User Stats

107
Posts
117
Votes
Maurice Blackledge's profile image
Maurice Blackledge's profile image
Maurice Blackledge
Pro Member
  • Rental Property Investor
  • from NC
  • Member since Sep 17, 2018
Connect
Maurice Blackledge
Pro Member
  • Rental Property Investor
  • NC
117
Votes |
107
Posts
Starting Out

Using Second Home as Rental Property

Maurice Blackledge
Pro Member
  • Rental Property Investor
  • NC
Posted

Hi Everyone,

I live in (MN) and I'm looking to purchase an out of state property with the intention to buy and hold, then rent out.

I was talking to a potential lender and was told that I could use the second property as a “ second home” in order to put less down at closing.

My question is: has anyone ever done this with a property they own out of state? Also, is this legal (not trying to discredit the lender)? Are there tax implications around this setup?

  • Maurice Blackledge
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