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Updated over 7 years ago,
Should I try and buy my 2nd property? Am I ready?
So I've been living in my first house hack/duplex since January this year. My tenant is about to move out and I'm going to move into the her unit and rent the side I'm currently living in out...
There is another duplex that is up for sale right now that is literally 2 houses down.
I feel like it would be awesome to own since it's literally the 2nd house over mine. My only issue is that the current loan I have on my duplex is FHA where I MUST occupy the residence for a year. Actually, I also used a down payment assistance program that REQUIRES I live in it for 3 years...
So I thought about maybe looking for PRIVATE lenders to see if I can make it work assuming that everything else about the deal is right...
How should I go about finding and putting together a deal when money is privately lent??? Where do I start and what are some tips and things to look out for???
Orrr, is this a bad idea? Should I just chill out for the next 2 years and work with what I already have?
Would like to hear some of you guys' thoughts and ideas.