All Forum Posts by: Tracy Mattox

I originally decided to sell so I could move to Washington to be closer to my daughter who now lives in Canada. However, finding homes in WA has proven to be more difficult and expensive. 

I am now re-evaluating if I should even sell, although I have enough equity to get debt free and buy another property as an owner occupied and create a rental like I did here if I sell. I am retired so on a fixed income and right now I don't have capital to invest into buying another rental. Debt free sounds appealing to me, I still need a place to live otherwise I would rent both units, there is just a lot I need to learn about how to do that with a fixed income and no capital. I am new to the real estate investing, but see the potential. Selling would give me working capital and debt free. Just counting the costs and praying to try and make the wisest and best decision.

I'm selling my primary home which has a $1700/mo income producing rental used for MTR/STR. Will have substantial 6 figure equity to reinvest.

Thinking instead of just buying another primary home, I will find something more affordable to BRRRR or Home Hack into another rental using as little down as possible and then perhaps purchase another rental or two. I am on a fixed income and want to reduce my debt on this home and I have a lot of equity in it.

I'm thinking it might be wise to invest into the rental market and live in a unit for now and then buy a primary later on. I have been renting my basement apartment for 2 years now and avg $1700/mo. So I have experience at being an MTR/STR landlord. Haven't done LTR though, I like that the tenants are new, fresh and employed so far and haven't had much incidents. I imagine I am making rookie mistakes but am learning as I go.

Any advice or suggestions on what to look for? What would you do if you were in my shoes?