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Updated over 7 years ago,
I'm looking to buy a second rental property
Hello BP
I recently purpased a dupex in Bridgeport, CT with 10% down conventional loan on December 13th last year. I rented the 2nd and 3rd flood combo units to a section 8 tenant while I live in the first floor with my girlfriend (house hacking). So far I'm living for free and still cash flowing around $200 a month. I have a Job making 60k a year and 750 credit score. I'm looking to buy another multi family withing this year. I have chase bank and it requires me to stay in my current house for a least one year before I can move out. I also have 75k in my 401k if needs be. I did take 10k from my 401k for my first purchase so taking more money from it would be a bigger penalty. Any ideas BP family?
Thank you