Can I invest in rental if I'm a renter myself?

4 Replies

I'd like to buy a small townhome to start my investing, but I do not own a house myself, I feel like if I do not do it before buying my own home, I wont do it because I'll invest everything we have in our house leaving nothing left for investing.

We actually pay 1200, and we can possibly buy a 70-90K property that can yield 1000/mo.

Some friends have advised us to buy a property, live it and then rent it, but we are not sure.

What are your opinions?

@Eduardo Mardini plenty of investors do not actually live in a house they own, they prefer to rent.  One idea is you can look into buying a multi unit and live in one unit, if that works for you.  I am not sure how it will be to get a loan though, but I'm sure it is possible.

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