As a homeowner, when you decide it’s time to move on — maybe you’re relocating, moving your growing family to a bigger house, or looking to downsize — you don’t always need to sell your current home in the process. Sometimes, buying a second home while renting out the first also makes sense.
Not only is it a great way to generate new income, there are plenty of other advantages. Let’s walk through the benefits of investing rather than selling, the implications of applying for a new mortgage when you’re already paying off another, and what goes into converting your first home to a rental property.
Continue reading How to buy a second home and rent the first at Movement Mortgage Blog.
from Movement Mortgage Blog https://ift.tt/2YqaxJ1
via Naza Finance Blog
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