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Updated over 3 years ago, 07/28/2021

User Stats

15
Posts
0
Votes
Carlos Feliciano II
  • New to Real Estate
  • Oakland, CA
0
Votes |
15
Posts

Eager to do first deal but primary home purchase holding me back

Carlos Feliciano II
  • New to Real Estate
  • Oakland, CA
Posted

Hello all!


My wife and I are building our first home in Las Vegas and will be completed next year in mid-summer. I am eager to get my feet wet on a first rental/BRRR property before our home is completed.

What would be the safest bet financially to obtain my first deal without affecting my ability to obtain my primary residence loan, or is this even something I should worry about?

My concern is that going the traditional financing route for a rental/BRRR property will affect my ability to obtain my primary loan for our primary residence (we were pre-approved).

Is this something where hard money loans would come into the picture or would it be better to wait until we finalize the mortgage on our primary residence then do traditional finance on a rental/BRRR property?

Thanks! 


Carlos


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