So I'm a complete rookie when it comes to buying a home. Literally have never done it but am interested in learning more. In my research keep hearing a lot about "appreciation" and I'm a bit confused. Let's say I do a 30 year mortgage on a rental property, can I sell that house before I pay off the mortgage, is this normal in real estate investing? Or is the idea to buy property, turn the cash into more rental properties, and then pay off your mortgages over time to then sell and make a $$$ off the appreciation from that?
Looking for a better explanation on understanding mortgages, appreciation, selling real estate investments.
Congrats on your start for RE Investing. You have a lot to learn and BP is a great place to do it. I think you need to sit down and write out your goals. Do you want passive income (rental properties), do you want to buy something today and sell it in 6 months at a profit (flipping) or do you want to buy a property that you can pass down to family members when you die (traditional real estate)? Read, question and discuss. You are at the right place. Good luck.