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Updated over 6 years ago on . Most recent reply

User Stats

5
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2
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Kris Lawhead
  • Enteprise, AL
2
Votes |
5
Posts

Buying Second property 60 days later

Kris Lawhead
  • Enteprise, AL
Posted

I recently closed on my first multi-family property in June of this year(2016). Things have gone pretty smooth so far. My realtor recently reached out to me and told me the owner of the 4-plex across the street is interested in selling. I haven't done a walk through yet, but if all is well I think I can make this into a really good deal. My question is: I only closed on my last property a little over 60 days ago and I've made one mortgage payment thus far. Is there any time restriction for getting another home loan? I know that my finances wont be an issue, but I don't know if there is a period of time that I must wait before I can finance again.

Any information and/or advice would be appreciated.

Most Popular Reply

User Stats

5
Posts
2
Votes
Kris Lawhead
  • Enteprise, AL
2
Votes |
5
Posts
Kris Lawhead
  • Enteprise, AL
Replied

I should of clarified, my current property is not owner occupied. It was purchased as an investment. The second property I would use owner occupied financing. So from what I gather, there wouldn't be any restriction?

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