Did you own a primary residence before REI
Hi Guys,
I was wondering how many of you guys owned a primary residence prior to flipping/rental properties and etc? For those who did not own a primary residences prior to REI, what was your experience. Thach Nguyen, a big real estate guru, said he lived with his parents first and invested in rental properties/house flipping. Has anyone lived in an apartment and did real estate investment or would that just be wasting money? Just wanted to know everyone's thoughts.
Most Popular Reply
Our first home became our first rental property. Being homeowners allowed us to understand the cost of ongoing maintenance and repairs. We took good care of the house and were able to make upgrades a couple of years before turning it into a rental. The upgrades increased the marketability and allowed us to get top rent. Living in the house also allowed us to pay the mortgage down significantly. The property has great cash flow and rents easily. It was one of the best decisions we've ever made.
Rob