All Forum Posts by: Ashley Hughes

Anyone?

Hi, I purchased a condo in Sept 2015 in Georgia. Since it was my first time buying a real estate property ever and also in a different state then I resided, the bank told me I had to put 20% down, which I did. I have never purchased a place for me to live in. With that in mind, I have 3 questions: 1. When I buy a house for me to reside (non-investment) can I still qualify as a first time homebuyer, since my first property was an investment property? 2. Is my investment property really considered an investment property if I have a family member paying to "rent" which is the same amount as the mortgage? Basically I don't make any extra income from the property...at least not yet. 2. I see other properties in the state where I purchased my 1st investment property. Is there a way where I can purchase another property in that state without having to put down the 20% as an investor?