Starting The Investment Journey
Hi everyone! I've been really diving into real estate lately and wanted to get your opinion/advice on starting the investment portfolio. I'm not new to investing, but am new to real estate investing. I have been trying to read a lot, study the market, listen to podcasts, etc...
Long story short, my wife and I purchased our first home in 2019 in Orange County, CA and are coming up on our two years here this summer. Our home value went up substantially, and we are considering on selling come summer time. We have our first child who's expected to arrive next month, and all I can think about is the future.
I have contemplated on renting out our property, but I believe right now is a prime time to sell our place. We initially purchased our home using the VA loan (I'm a USAF Veteran), and would use it for our next property as well since we refinanced over the summer.
My question to you is, if you were in a position with a decent amount in equity, would you:
A) Rent out the property.
B) Sell and use the equity as a down payment for another property.
I want to pick up a little fixer-upper for our next home, but the buyer's market is a little crazy right now. If we sold our place come summertime, we do have a place to live for the time being until another property is found.
I talked to my wife about using the money to get ourselves a rental property, but really don't know which direction to take.
This place seems like a great place for networking and ideas so any input is greatly appreciated.
Thank you!