Finding my niche/financing advice

[Roxanne Domingo]

I'm doing my research and motivated to get started. Want to keep my momentum and have a goal to purchase my first property in the next three months. I am interested in Long term rentals with good cashflow. What are your thoughts on student rentals (areas with large universities/colleges) or section 8 rentals? Are these good areas to pursue or should I just stick to tradiitional single and multifamily homes?

Considering two options for Financing my first property.

Option #1: I'm currently holding a mortgage on my first home. I have an ARM which is set to go into effect 2030. Given the unpredictability of the whole thing, I've been very anxious to convert to a fixed rate however, my current interest rate is only 3.2%. I have considerable amount of equity in my current home. Should I use this opportunity to try to refinance to get a fixed rate and at the same time utilize the equity in my home to fund my first deal? Does this make sense given that interest rates are so high?

Option #2: i have some funds in stock market. Large companies that I think will be around for a while. I haven't suffered any major hits, and these funds have been there just riding the waves of the stock market. Had no plans for it until now. So, my other option is to pull these funds to get started. Any thoughts on which might be the best option?

Would love to hear your thoughts and advice as I think this through. Thanks!

[Caleb Brown]

I'd lean on option 1. It will stink to lose the 3.2% but you'll have to refi anyways in a few years. Make sure to rerun numbers with current rates so you ae good with the payment. Student housing is a good niche, I am not familiar but I know people can do very well with it