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Updated almost 2 years ago,
Where would you start?
Hello BP Community!
I want to get serious about real estate investing. For me, it's just theory, ideas and learning at this point.
A bit of background, I am married, with two kids and a dog. The house we are in now is owned free and clear, over the past three years we have been renovating the home as we purchase it from an estate - long story short, it was a hoarder house. We have completed a remodel from the bottom up - literally, we added a master in the basement along with a living room and extra bedroom. The upstairs has two bedrooms, bathroom, kitchen and dining room - all brand new. Exterior is Hardie siding that we need to seal and paint - will add a patio and deck this spring. Small shed added in the back yard for extra storage.
In less than two weeks I am relocating to Kalispell, MT for work. I earn over $100k annually and will be renting when I get there.
Debts - just under over $30k on the Lowe's card - used for renovations and a $22k car loan. $25k in the bank.
What is your approach if you are in my shoes? I am nervous about the quality of tenant I will get if I put the property up as a rental. Airbnb has crossed my mind - just not 100% sure if the ROI is there. Sell? Refinance?
Thanks in advance!
-Cody