Buying a primary and investment, HOW DOES ONE AFFECT THE OTHER?

[Michael DiNuzzo]

Hey all!

I am in the process of starting my real estate journey and need some guidance on primary and investment properties. I am currently looking to purchase a primary residence all while also trying to secure an investment property in an out-of-state market soon after (now to 6 months).

-What are some things I should consider?

-How soon after buying my primary residence can I purchase another for investment?

-How will obtaining a primary mortgage affect my second mortgage on the investment property? (buying both with traditional loans is what I intend to do, cash for a downpayment will be accounted for)

-Will the primary residence purchase affect my credit and possible pre-qual for the second home?

-Should and or could I purchase the investment property in an LLC with a partner, if so does that change anything?

-After purchasing the primary what should be my next step in terms of confirming financing etc?

THANK You in ADAVANCE! hope 2021 is off to a GREAT START!

Mike