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Updated almost 4 years ago on . Most recent reply
Should we invest right now?
Hello everyone, I am new to the site! I am a Veteran of the United States Marine Corps and I am married to my lovely wife who is a Registered Nurse(BSN). I have spent the last few weeks reading heavily into real estate investing and looking at the long term benefits. I really want to invest now. However, my wife and I have a few debts (we have a plan to pay them off in about a years time). None of those debts are credit cards, they are our cars and student loans all amounting to around 48K. We have a mortgage that we just got back in April on our house (300K) here in Clearwater. My wife is concerned with investing now because she plans to go to school in about 2 years to finish her DNP and during that time (2 years) she will not be able to work nor do we know if we will even be in the same area. There is a chance that we will have to move to where her school is. Combined right now, we have really nice cash flow. Can someone connect with me and give me some ideas, direction or pointers. I do not want to wait a long time to invest, its just opportunity lost in my eyes.
Most Popular Reply
@Joshua Bowers As the saying goes yesterday was the best time to buy and the next best time is today.
That being said I’d start building your team and discuss with your wife about where her schooling is likely to take her. Perhaps the best plan is to pay down your debts for now and invest in a property where her school will be. Then you could potentially place it with a property manager after she is done living there and you’d have her housing taken care of and a rental afterwards.
In the meantime if that idea does of doesn't work for you maybe you can locate an investor friendly realtor as you build your team and once you've narrowed your property criteria if you want to invest locally to where you're living now have them set up a search for stuff on the MLS that fits your needs. It won't take up much of the Realtors time but will let you start to get a feel for the local market.