Updated over 4 years ago on . Most recent reply
Introduction and First Rental Property
Hi everyone, my name is David Lancaster and my wife and I will be moving in the next two years for my career when I get out of grad school and now I know we are expecting a little girl! So I have even more motivation now! We live in Barren County, KY and are secure in our finances and invested in mutual funds, but I would love to have more independence and not HAVE to work. I have wanted to get into real estate for some time now but we make about 50k a year combined income and didn't know much about it. We have thought about putting our 3 Bed, 2 Bath SFH out for rent instead of selling when we move. Our mortgage is about $500 a month and since my wife works at a bank we have an interest rate of 2% We think we could rent out our house for $1000-1200 a month. Do you think this is a wise move for us to get started? Thank you!