General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
Primary vs Secondary Residence
Hello, I'm currently located in Beverly Hills and own a secondary residence in Austin Texas that my mother and Grandmother live out of. Given the virus, I'm currently looking at relocating to Austin live and work until the pandemic is under control. I applied for a pre-approval letter, but the specification that "Primary Residence cannot be located within 100 miles of Secondary Residence." came up.
My question: How am I able to purchase a home that I will BRRRR in Austin that is near my family? It does not seem I can do so with FHA due to the specification above. I'm currently looking at 30k down, but have access to more. Any insights are helpful. Thanks, y'all.