Buying rental property while still renting

2 Replies

Hi all,  I believe this topic was already discussed years ago. However, I am still looking for answers.

Does it make sense to purchase rental property while still renting. I live in a huge 3 bedroom apartment, paying $1,500 a month and my overall monthly expenses are low. In my area this is unheard of. The landlord is crazy awesome and really isn't interested in charging top dollar for this apartment, even though 3 bedroom rentals are going for $2,200 a month easy.  My plan was to purchase a 2-4 unit house and continue to live in this apartment. Does this make sense? 

It depends on your goals @David Vargas . I think personally it makes sense if you're staying at a good rent level and can buy a multifamily house to generate cash flow. Unless you are planning to buy a personal residence and that is your priority, I think it's a smart move.