All Forum Posts by: Jimmy Tracks

Quote from @Tim Ryan:

Hey Jimmy,  I say for sure keep renting and buy an investment property. But you'll have to buy out of state. Buying your primary can wait. Start getting positive cash flow and learn the rental business, and buying your own home will be much easier in the future. This is a no-brainer for me to tell you to buy investments!

Since it would be my first investment property is buying out of state the best decision? Maybe my only option? Considering I live in San Diego. Ideally I’d want to buy the investment property here in SD. I was even thinking about the Temecula area. Since it’s relatively close to SD. 

So I’m new here. I’ve been in a dilema for about one year. I sold my property a few years ago and have about $300,000 from that sale. I’m currently staying with family but I need to find my own place. And, I’ve always wanted to buy a property to rent out and have some cash flow. Also in the long term maybe have 3-4 rentals. Being here in San Diego it’s a tough market. Should I put all that down to find my primary then later maybe search for a rental property? Or is now the time to find that rental and put some of the cash down while also being able to find my primary residence? Is it doable?

I can’t afford too much. I’m looking for about $2500 mortgage (p&i, prop tax, hoa) for my primary. 
Should I just rent for now while I leverage that cash to set up my rental prop then find a primary? Or just go find a primary and put all that money down? Not sure what to do. 

Sincerely,

Confused