A Few Questions On Getting Started

[Rick Jenkins]

Hello,

My wife & I have started our real estate investing education and want to invest into long term cash flow residential properties. But we have a couple of questions. To start, I’ll give a quick explanation of our situation. We own our own stable business that provides our revenue, our credit is good and we currently rent an apartment for our living space. Our questions are these: 

1) What comes first? You know, the whole chicken or egg dilemma. Do we buy us a house first or buy income producing property? We thought about house hacking but our area does not have many duplexes, triplexes or 4 plexes. 

2) We are leaning towards buying income producing property first but then are unsure how we transition one day out of the apartment and buy a house for our own living space.

Any thoughts and advise would be greatly appreciated.

Thanks,

Rick