Buy for myself first? Or by rental property?

Saint Charles, IL · Member since 2015 · 19 posts · 3 votes

Hey guys just joined the site, love it! Was wondering if you would suggest buying a house for yourself first vs renting Or buying a rental property first? If buying a home for yourself first would the bank let you buy another property to rent out?

2 Reply

70 views

Most Popular Reply

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

11y

@Tony Dragoo

I think that is a regional question and a market question.. if you in a non appreciating market and I would describe that as a market that moves 1 to 3% a year if your lucky compared to say SF Bay Area.. then I would not worry about owning .. but if you west coast upper east coast DC and other areas were you can get priced out of entry level I would buy first. but that's just me.

One reason I would buy in an apprecitating market is that your first 250k profit as a single person I s tax free and 500k as a married. Now I know many mid west and other market the houses will be luck to move up in value 20 to 50k in 20 years.

But if you look at CA. and I look at what happened to me personally over the last 40 years I made Damn close to 2 million tax free on just my personal residence's.. so I really never bought investment properties .. why should I ... I made money flipping.

Podcast Guest on Show #222

JLH Capital Partners51 Review

Website View Page

2 Reply

See this reply in the discussion

26 Replies

Jump to latestLatest

Sort by

Join the conversationCreate a free account to reply, vote on answers and follow this thread.