$50k burning a hole in my pocket
Newbie post.
Got $50k and trying to see what to do with it. SO and I LOVE DC and our jobs are mostly located in the Bethesda area. We are currently renting but want to start putting that money to work. SO is not a fan of the house hack (privacy and safety concerns) and multis are hard to come by, so either seems like buying and holding or keep renting and use our money elsewhere. Also, we both have excellent credit and have never owned a home. I'm guessing cash flow is out with that scenario, so how else should I think about it as an investment if all I'm really relying on is appreciation and possibly fixing it up? I know the general thought is that appreciation should just be the icing and is a nice to have but shouldn't drive the decision.
Questions:
Should we consider other strategies?
How can we make a good long term strategy with Buy and Hold? If we fix it up a bit, how do you model that into your projections for ROI?
TAGs: DMV, Virginia, NOVA, DC, Washington, DC,