All Forum Posts by: Chariss Hernandez

Thanks Justin for the fast response, a little more info to answer your post, I currently have $20,000 in the bank(savings), single mom no future plans as far as needing more space for now. The current balance on my 1st SFH is $105,000 @ 4.5 IR living in Miami (tough market right now). Earning $80k/yearly (job) Current situation is not tight, just looking forward in making a move already :) My plan was to do what I posted previously but someone had told me that I was crazy to not invest that money instead, so I'm trying to see different options

Hello, I am completely new to all of this as I am now starting to research and gain more interest and insight on real estate investment. I am inheriting $100,000 very soon and not sure how to proceed . I do own a SFH that I bought as a foreclosure 8 years ago and I am currently renting it out and gaining $700 a month from that alone right now. I did move back with my mother in the meantime to save up some money and buy a second home for my two-year-old daughter and I. So with the $100,000 that I am receiving I was thinking of putting 50,000 towards my first home to pay it off in 5 years which will give me $1,900 a month clean and take the other 50,000 as a down payment for my second new home not sure if this is a wise move any advice will help, thank you.