What Would You Do First: Rental Property or Primary Residence?

[Da Shiek Woodard]

Picture it: Washington DC, 2020...

•$20K in cash allotted for real estate

•Excellent credit

•One rental property that cash flows $300

•W2 Salary $90K/yr

•Renting primary residence at $2200/mo

My question is do you think it’s more important to focus on adding doors to this portfolio or to purchase a primary residence to eliminate the rental expense?

[Russell Brazil]

Purchase primary residence without question.

You have a monthly housing cost regardless of whether you own or rent....the question is would you rather spend that money helping to build your own wealth, or spend it to build your landlords wealth?