2nd Property Advice

[Jacob Gray]

Hello,

I just recently bought a 4 bedroom house in Phoenix. I am 24 years old and have 3 roommates renting out the other rooms. I currently have about 26k in liquid cash I am saving up to eventually get my 2nd property. Unlike the first one bought that I live in, this is not a property I will live in. Any advice on what type of properties I should look at or any strategies I should follow? I know I will most likely need more money but I am able to save about $2k a month. I was thinking about looking into section 8 housing because I heard they can cash flow well out of the gate if you do it well. I really liked the idea of getting an airbnb property, but it looks like that market is a little volatile and unpredictable at the moment. Any advice is appreciated! 

[Josh Young]

@Jacob Gray

I know you said you don’t plan to live in the next property, but why not? You can buy a new primary residence and put just 5% down, so you could buy it now and just rent out the rooms like you are doing in your current house. Then you will have two houses rented by the room, cash flow wise rent by the room is great, especially if you can get 4-5 bedrooms.