Next Step for investing

[Chris Shaw]

Hello BP!

So I'm in the process of selling my primary home as we speak. I should net a decent amount for the house. The plan is to buy another SFH with FHA (we can do conventional)

With the other cash from the sell we planned on buying a MFH in Phoenix, AZ (or surrounding areas), or Las Vegas.

After a year or so we plan to refi out of the FHA, rent out the SFH and find something more long term.

Can this transaction be done sooner? As in buy both at the same time. Lived in the house more than 2 years so I don’t have capital gains tax (as my Agent says). Anything I should be aware of? Did I over look something?

[Jonathan Greene]

You are doing what seems to be valid on paper, but won't necessarily work out that way. Why Phoenix and Las Vegas for a multi? Those markets are steaming hot right now so you will be paying up for something that you can get somewhere else for much less and likely better cash flow. Why are you selling? To net the money to invest? Then your first step is what kind of house to do you want to buy? Are you intentionally downsizing or do you want a nice house and use the leftovers for next investment. You can't always count on the refi if you buy in hot areas because if the market goes down or cools, there is no refi to get money with.