Primary Home Investment or New Purchase
Hi! I am about a year into purchasing primary residence for me and my family. Our home has an in law unit above the garage that we currently live in. The space is pretty outdated since it was built in the 80s. We live in a small rural town on the way to Yosemite National Park, surrounded by huge lakes and hiking trails. With this we attract lots of people over the summer, fall and even winter for the snow slopes.
My goal is to generate some passive income either from; creating a short term rental of the in-law unit on a seasonal schedule OR purchase a new investment property such as a small multi-family home somewhere long distance.
I have about $20k in liquid capital that I can use for either option. Curious on what folks thoughts are. Thanks!