Two houses at once - Erie, PA

[Sherez Mohamed]

Hello!

I am interested in tips on purchasing two homes at the same time. I’m pretty much a rookie, btw!

The houses are located right next to each other (different sellers). One is a single family home and the other is a duplex.

Would it be a good idea to try and go for it? If so, what advice do you all have for this type of situation?

We would be living in one of the houses, so it would be owner occupied.

But in terms of loans, I’m not sure what the best route would be. My husband and I have enough to do 5% down on each property (one is 70k but has been sitting for a while, and the other is 75k, also sitting for a while).

[Joe M.]

Hi Sherez

Well I have no real advice hahah

If I were new, I would just try with one and go from there. If you are living in either the SFH or duplex, you will get better loan rates, but I think more importantly, you will get your systems down before possibly getting overwhelmed and underwater with two properties. Potentially get the duplex, live in half, rent half. If things go well, then move out to look for property #2

Also, look to join the Apartment Association if you to rent out.  They have all the leases you would need and offer great support. 

Good luck