All Forum Posts by: Danny Deatherage

I am torn on what to do in acquiring our first rental property. My wife and I spent the last 2 years remodeling our fixer upper and are fortunate enough to now have a wonderful home in a great neighborhood w/ great schools for our daughters. 

After looking at comparables in the neighborhood, I estimate about $100k profit from what we originally paid for. - My 1st thought was to sell our home & put those profits into a unit or two. ***I feel that it would be counterproductive to move to a new home and pay more on our mortgage, so I looked to downsize considering the higher interest rates. Unfortunately homes in my downsized price range are few and far between in the school districts/cities I'm looking for.***

We are relatively close on what we would need for a 20% down payment for rental properties that we have come across but it would just about wipe us out and leave us vulnerable...

I feel like the obvious answer is bite the bullet, sell the house and settle on a less than satisfying home for the sacrifice of the first step to our goals but I was hoping bend and ear or two who can offer a level of advice.

Thank you!!!