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Updated about 2 years ago,
rent go into mortgage or buy vacation condo
hey guys, new member here, based in hawaii, find myself in a situation wondering which route to go
Started my real estate journey in march 2020, bought a rare vaca legal condo in hawaii, got lucky and killed it with that as far as home prices having doubled since then here in hawaii as well as crack down on residential airbnb funneling more people to legal vaca rentals.
airbnb covers its own mortgage (2000) plus another 2000 of my 3500 rent
wondering wether i go for A another condo and more cash flow or B go for a residential single fam i can fix up and live in, cutting rent out and gaining equity instead of paying someone elses.
new mortgage on single fam here would probably be 5500
thanks any and all inputs!