Bug 1st Home Vs. Investing

[Stephen Sokolow]

Hi all, this is my first post. I am a big fan of the podcast and enjoy reading all of the amazing information on here.

Here is the question. I am 38. I am married with 4 kids and a dog. We have never owned our own home. After many years living in a very expensive housing market we recently moved to the midwest where housing is very affordable. We are renting now for $750 a month. I have also recently come into being able to put down at least half of the price of a home priced at $113,000. That would make my mortgage around $310. 

Do I bite the bullet a buy our first home to live in? Or do I try and invest in buy and hold rental property for cash flow? 

Thanks and looking forward to your feedback.