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Updated almost 2 years ago on . Most recent reply
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Looking for guidance to make the most of my age and situation.
I purchased my home in Elgin Tx in November while rates were low thinking we would be at the home for a while. We will need to move for work ...but where we purchased our home for 312xxx in November, the similar homes being built around us are now only 285's.
Are there alternatives that anyone has used when put in this situation?
Are we stuck?
I'm only 24 this is my second home I've purchased (sold my first), and a dream would be to be the first of any of my family tree to figure out how to make the most of the homes I purchase as well as having a portfolio of rentals.
Most Popular Reply
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- Rental Property Investor / REALTOR® / Property Manager
- Gilbert, AZ
- 388
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- 344
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One of my friends owns a few rentals so I asked him a million questions because I didn't want to make a mistake, and I saved so I had more reserves than I needed, make sure you have at least 6 months of PITI payments in reserves, as long as you have reserves you have time to pivot if you run into unforeseen challenges. I also listened to every episode of the Bigger Pockets Podcast and really became obsessed lol... You don't have to get it perfect, just make sure the numbers make sense and pull the trigger. Ask every person you know if they own rentals or know somebody who does own rentals and you will find someone.