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Updated over 9 years ago on . Most recent reply
Income Property vs. Primary Residence
Hi, I have been researching investment opportunities since before I can remember. This year, I finally bit the bullet and bought an income property outright. Since it is a condo association of almost 100% vacation owners, I had to pay cash. The initial investment was low, and is generating almost 30% ROI annually. This year I'd like to make a move in another market but I am also trying to buy my first home (primary residence). I'm curious to see if anyone has any experience shopping for primary mortgages AND investment mortgages simultaneously? Or if anyone could shed insight on how acquiring one may impact the other. I've done a lot of research on this, but experiences are much more telling.