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Updated about 2 years ago on . Most recent reply
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Conflicting feelings about starting out
Howdy,
I've been replying in other threads but this is my first post. Hopefully this is the right place to put these thoughts, but apologies in advance if it isn't.
I just moved to the Tyler, TX area, bought a house, and am working night shifts as a truck driver. It's a good setup so far, but I'm finding myself feeling too tired to jump into my primary goal, which is active real estate investing. I do go to an area real estate meetup group when I can, but my involvement in this has been limited due to my wonky work schedule. As I just moved here, I don't have that network of contractors, managers, handymen or lenders, and experience with them has been limited.
I've therefore been thinking of starting with turnkey investing; not my original intent but it might provide the hand-holding I feel like I need, and could bide me the time to build up more connections in East Texas while also getting started at least in some capacity. Then again, my cash reserves are limited, and I'm cringing at the thought of blowing everything I've got on a home downpayment and start all over again.
Then there's the idea of house hacking. This seems to be the logical way out of this conundrum, but I'm kind of a late bloomer. The home I bought is my first, and I am really, really enjoying having it all to myself for a change.
And so now, I am on the cusp of getting a substantial income tax return and am thinking of blowing it on goods, instead of putting it towards the next real estate purchase. I'll probably put the money in my real estate cash account in the end, but part of my brain is telling me I deserve to spend it for once.
There are some other thoughts I have about maybe moving into a real-estate oriented career, but I think I'll just leave this post at what I've got. Anyway, any insight, reflections or comments would be appreciated.
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Don’t let present-day Casey steal from future Casey. Invest that money! You won’t regret it