Buying property at the same time?

[Joseph_free]

What is the name of your state? CA

Can one purchase 2 or more property at the same time?

[HomeGuru]

Originally posted by Joseph_free
What is the name of your state? CA

Can one purchase 2 or more property at the same time?

**A: and why would you think you couldn't if you have the cash and/or are able to qualify for mortgage loans?

[Joseph_free]

Originally posted by HomeGuru
**A: and why would you think you couldn't if you have the cash and/or are able to qualify for mortgage loans?

Maybe I should be more specific.
If one goes to a lender 'A' and the lender says that they can qualify with only one property. Even if they have enough down for 2.

So the alternative is to go with 2 unique lenders. In each lenders eyes, perspective, they still qualify you for purchasing one property. However, you are really purchasing 2.

I hope that made sense. So my question now is, is this legal?

Joseph_free

[HomeGuru]

Originally posted by Joseph_free
Maybe I should be more specific.
If one goes to a lender 'A' and the lender says that they can qualify with only one property. Even if they have enough down for 2.

So the alternative is to go with 2 unique lenders. In each lenders eyes, perspective, they still qualify you for purchasing one property. However, you are really purchasing 2.

I hope that made sense. So my question now is, is this legal?

Joseph_free

**A: no, it does not make sense.

[nextwife]

You must make truthful disclosure and cannot buy two owner occupied properties at the same time. I know people who are regular purchasers of RE and often buy two or more properties at the same time. Nothing wrong with that. But don't be a wise guy, be straight about other properties purchased. Requests for credit checks by other lenders will show up when your second lender runs theirs.

[HomeGuru]

And another credit check is run by the lender right before closing.