Hello! I’m curious to hear people’s opinions so that I can accurately weigh my options.
I currently have enough cash to buy both a home and an investment property with conventional loans. I don’t have the greatest income ever. Within the year I’d like to buy my first home, and my first rental property. Would it be better for me to buy the rental before my first home?
Questions
-Is buying a home first going to limit my ability to buy a rental? (Because of debt to income tied to property)
-Will buying a home first make it easier to buy a rental? (Because of equity lines of credit and creative financing)
-Is buying a rental property first going to limit my ability to buy a home?
-Is buying a rental property first going to make it easier to buy a home? (Because mortgage is covered freeing up debt to income?)
Does it even matter what I do first? Thanks
DISCLAIMER! No I am not looking to househack. The price and scarcity of multi-families in the city I am moving into does not allow for me to do that.