If you’re thinking of doing a second home or an investment property, call me first. I’ve worked with a lot of clients who were surprised to know that a second home purchase can sort of act like a quasi investment property, and it can have a smaller down payment and a lower interest rate.
Second homes can be a really cool sort of entryway into investment property purchase. And I’m not saying you don’t tell the truth on your application— if it’s a second home, you declare a second home. But a lot of people don’t understand that you can rent out your second home. You just have to live in it two weeks out of the year— that’s the key. It has less reserve requirement, lower rate, and much lower down payment as the minimum down payment.
Second homes are a really cool solution to start buying additional real estate. So give me a call and talk to me about second home purchases! I would love to talk to you about that and share with you what other clients of mine have done to get a much lower down payment, and to make money off their second home. So if you have any questions on anything I’ve talked about today, feel free to reach out! We’d love to chat with you and help with any questions you have!
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