Updated over 8 years ago on . Most recent reply
Looking for advice on what to do with the income from first prop
Hello all! Not sure if this is the correct forum for this, just looking for advice. I am moving away from Florida and have to opportunity to turn my first home into a rental / investment property! Not by choice either, id have to pay a ton out of pocket to sell it. Any ways, should I take the income from the property and pay on principle to eventually be able to refinance and turn it into a higher income property, or better be able to make a profit off of a sale down the road and invest that into properties in the future? or take any income and save it to put towards a second rental property from the start? Im looking about 120 a month in income from this property. Any advice is greatly appreciated! Thank you.