All Forum Posts by: Mychael Reyes

Thanks Ed & Antoine. Yea, I'm not following Antoine on the 400k equity. I doubt we sell it, would rather keep it and refinance. Just don't want all the equity to sit there without being used.

Hi guys,

So I'm in an interesting position. My wife and I bought our first home, a new build back in Feb 2021 in Queen Creek. It is still under construction, haven't even gotten to a pre-drywall inspection phase. We will probably have around 200k equity in this home by the time we move into it more or less. We bought for 530k and it will most likely appraise for 700-750k, all depending on when it closes. 5bed 4bath 2700sqft in a great neighborhood. 

My question. Now that I have more of an REI mindset, seeing my primary as a liability more than an asset, I would preferably like to rent out the new build, buy a home with a guest house/guest quarters to airbnb or rent which would help pay our primary homes mortgage. I have a family of four with 1 more on the way, so house hacking a duplex wouldn't be feasible. What would YOU do in my situation? Is the way that I'm looking at it the right way to go? Any input would be greatly appreciated!