Updated over 5 years ago on . Most recent reply
Market Analysis Maryland
I am discovering BiggerPockets after making the decision to get a house with a $500K mortgage. Now that I’ve been reading a few books on real-estate investing, I’ve realized my misstep. Although my house was a good deal for the area I’m in, it’s pigeonholed me slightly as far as having capital to invest. Anyone in my situation or is there anyone that has been there before? My plan was to keep saving until I have some money ($10,000) that doesn’t affect my current living situation if things go South. Thoughts?
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I did something similar. 5 years later, I recently closed on another SFH in the same area. Planning to rent out the previous house. I see it appreciating long term.
Though not intentional at first, over that time I became somewhat handy (I had 0 remodel/repair knowledge prior). Things like basic plumbing, finish electrical, fence construction, paint. That helped both my budget and knowledge. All while saving, networking, and learning about personal finance.
What is your goal with the $10,000?