All Forum Posts by: Marcus Pender
Marcus Pender has started 2 posts and replied 2 times.
Post: Looking to be a first-time RE investor, currently have a lucky beginning
- Posts 2
- Votes 4
I will start by saying I am very lucky to have a paid off primary residence in the northern Kentucky area in my late 20s. I have recently been educating myself to get into real estate investing, but with so many paths forward it is difficult to pick.
My wife and I originally planned to move within two years into our "forever home". This was planned to happen by selling our current residence, as well with our well paying for the area W2s. Recently, we have talked about getting a start in real estate investment to accelerate our goal of financial freedom.
We have gone back and forth with the ideas to sell the current residence and use the money to invest in multiple properties. Rent out the current residence ($2200 - $2500/m) and use it to pay for a mortgage in a house that we are able to rehab and add value to. Stay in the current residence and save up for a SFH to rent in the area. The thought of house-hacking would work for us, however there are no multifamily homes in the area that would be able to accommodate us, our child, and our 2 dogs.
I feel that already having a paid off residence can take some of the risk out of whatever path we decide to take. However, we have no idea which path best suits the current position that we are in.
What would you do if you were in our shoes?
Post: Have a great base, Don’t know which path to take
- Posts 2
- Votes 4
To start, I am very lucky to own a primary residence that is paid off in the northern Kentucky area. I have recently been educating myself on getting started in real estate investing.
My wife and I were planning to move within the next 2 years into our "dream home" using the money from selling the primary residence and our well paying for the area W2s. We have thought recently, maybe rent out the primary residence (rent would be around $2300/m) and use the rent to pay for a mortgage in a property that we move into. The goal would be to move every year or two and continue this process. We looked into house-hacking, however there are not any multifamilies around that would be able to support us, our child, and two dogs.
What would you do if you were in our shoes? We want to make the best decision based on our circumstance, but we feel that there are an overwhelming amount of options on the best path forward.