All Forum Posts by: Robert T.

I’m not selling my truck, I need it. If I said I have no money and can’t save maybe then that would be good advice. 

I more less made this post to get several strategies on how to break into RE investing with my given situation. I think the best advice was continue to research, don’t rush, and go into my first deal with confidence which to do I still have more to learn. 

Any future responses; put yourself in my shoes, in that situation, what would u do in hindsight considering the experience u have now. 

Thank you for all the responses though, I’m enjoying this site 

Thanks for the advice, traditionally I was thinking townhome or SFH to buy and live in, but there are most definitely advantages to a multi-unit that I have to consider and see whats out there. Flipping feels like too much risk currently as I'd like to be hands on, and I don't have that much time to put into something like that right now.

I'm going to have to research some of the terms you used Arianne as I'm unfamiliar with "house hacking".  Yes I'd like to keep my job, just maybe not work as much OT and secure my retirement instead of count on pension and 401k.  Also noted I've already reduced my contribution to just above the minimum the company matches.

Also on the car note, it's a truck, it has good utility, if I became a home owner or landlord it would have excellent utility.  I know I'm moving sooner than later no matter what so it'll serve there.  I require reliable transportation for work, and also it gives me the ability to put my boat in and out of the water so its not something id like to sell or sacrifice at this time.  

thanks for the reply Jay and that's more of what I've been looking to do is a rental that fits my budget to start me off, but is my cash going to serve me better in a rental that provides relatively little cash flow vs being used for my own residence as a down payment?

New to the site, but love all the information on here.  Really looking to educate myself in finance as school/parents/friends all mean the best, but don't have sound advice anymore imo.  

So my situation; I've made almost 100k for the last 8 years, but badly mismanaged my money when I was younger so all I have to show for most of that is bar tabs and memories.  I currently rent, cheap for Pittsburgh area $500/m + utilities which is convenient and close to work.  I have a car payment that's $700/m, to which I still owe $30k @2.8%.  

I've been looking to buy property instead of renting as I have been, but there may be a job and location change in the near future so I'm hesitant to buy especially in a local up market with uncertain futures; even though I know if I buy I can rent that place out, I don't want to make a mistake with my nest egg Ive saved.

My question is,  With $50,000 in the bank, in an up market, and considering my work situation, what would be the best thing for me to do with cash? Pay off lower interest debt? Keep liquid for a down payment on a personal residence? Look for investment property? Put in stocks when the market is the way it is? 

Note, I have a emergency fund aside already.  Pension, separate 401k that gets heavily contributed to, and not other debt than auto.

Any advice or direction would be appreciated, thanks in advance.