Newbie from Crown Point, Indiana
Hi, Carl Zurbriggen here from Crown Point, IN. Have always wanted to get into the rental biz, but never gave much thought, b/c I always had it in my head that only people with previous wealth could invest. After discovering ChooseFI and BiggerPockets, I found the motivation and resources to jump in and get started.
In the process of downsizing our current home. Closing on our house in a couple of weeks and will be netting $55K. Putting $50K down on one side of a duplex in a subdivision that is very popular to rent in. Mortgage will decrease from $1,100/month to $675/month. Doing some minor renovations upfront and planning to live in it for a few years to pay down some remaining student loans, remainder of car payment and pump up the 401K. After a couple of years, we'll rent it out and really start the journey. My goal here is to accumulate as much education and resources as I can and hopefully meet some really cool people who are doing awesome things in this area.