All Forum Posts by: Julie Inderkum

Thank you to everyone for the advice, recommendations and sharing of first-hand experience! 

In regards to FHA loans, is there a requirement to live in the home/property for a certain duration of time? If so, for how long?

Thanks!

Thanks so much @David Hutson and @Chris Kirk! Chris, I appreciate you laying out the pros and cons. All good things for me to consider.

First, thank you to the BP community for all the helpful knowledge and insight. I just discovered this amazing resource last week and have already learned so much!

I am hoping to purchase my first rental property in the Sacramento, CA area within the next year and am wondering if it would be foolish to purchase a rental property prior to owning my own home. Currently, I live in a home that has been in my family for decades; it was inherited by my parents when my grandfather passed away. The home has been paid off for years and I pay my parents a very affordable rent to live there. I love the house and am happy living there for the time being.

I would like to begin investing in real estate (buy and hold), but am curious as to the pros and cons of buying a rental property as my first real estate purchase. Are there benefits to owning my own home before purchasing a rental property? Any downsides to buying a rental property prior to owning my own home?

Any and all advice is appreciated! Thanks!