All Forum Posts by: James Jones

Hello Everyone, really looking for advice on what our next move should be to start our real estate investing journey. 

We currently live in a 3bed 2bath home with a $1500 mortgage. Looking to purchase a second home as our primary so we only need to put 5% down. We then will start renting our our current home for around $2k/month. 

We have 50k for a down payment but not sure if purchasing a second home in the Portland/Vancouver market is smart due to how inflated the homes are. But we also don’t want to sit on cash for to long. 

How would you invest 50k and you lived in a current home that would cash flow if rented? 

All advice would be highly appreciated:) 

@Joe Aiola thank you for the advice! I will start looking at other homes as our primary. We are ready to move on from our 1054sqft home. 

Hello, I am interested to hear what your opinions are on buying a second home. We currently live in our 3/2 home and are looking to purchase a second property to rent.

Should we look to purchase our second property as our primary, which would mean a lower down payment.

Or do we look for our second property as a rental property. Which we need 20% down.

Also, what are other options that might be available instead of putting 20% down on a second home that’s not a primary residence?