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Updated about 5 years ago,

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5
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0
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Seth Atwell
  • New to Real Estate
  • Knoxville TN
0
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5
Posts

First Investment mistake

Seth Atwell
  • New to Real Estate
  • Knoxville TN
Posted

Me and my wife bought our first investment property back in August 2019 in Knoxville TN. We were not very educated and had not yet come across BiggerPockets or talk to many people about what we were trying to do. We ended up buying the house as a second/vacation home because we are not yet residents of Tennessee because I am still working in North Dakota in the oil and gas Industry. We plan on transitioning to Knoxville in August 2020. The problem we are having is that our mortgage company is saying that we can NOT rent the house out because we bought it under the pretends that it would be a vacation home or a secondary home out of state. Can anyone help us with this or tell us how to jump this hurdle so we can continue to BRRR ( buy renovate rent refinance). Thank you I hope to hear some feed back on this. I'm sorry for being so ignorant on the subject. We are new and eager to learn. I don't take NO very well so I will find away around this. 

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