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Updated almost 6 years ago on . Most recent reply

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Steve Laramie
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Buy a home or investment first?

Steve Laramie
Posted

I am currently a Realestate investing newbie.  I have been in a position to purchase a property for a while now, but have been going back and forth on buying a home, or strictly an investment property first.  I have been renting for the past 5 years and was hoping to find a duplex to house hack.  However, duplexes in my region are far and few between so it has been a drawn out process. I recently found a low priced single family home in a very high rent area, 2 blocks from a major university in a rapidly developing city.  This is a very unique property and has a very large rent and equity potential. I have a partner who is willing to provide a private loan at a low interest rate for a 50/50 split.  Is there anything inherently wrong with my first purchase being a partnership investment property while I am still renting my home?  Or should I focus on buying a single family home for myself, and then invest?

Thanks

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