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Updated over 1 year ago on . Most recent reply

First rental property
Looking for some feedback if what I am doing is good like I think it is. I just bought land to build a house. Still not sure if that was a good idea or not. I live with my parents/ wife and kid taking care of them. Parents House is paid for so I only take care of the utilities and things like that. I had 30k cash, after the land I know have 25k and am thinking of buying a house to rent the rooms out until I can officially rent the entire house out after a year, leaving me with around 5-10k in the bank. I am wanting the house I get to cash flow and hopefully do that again to acquire more properties but I fee sort of lost and not sure if I am doing the smartest thing. Any advice, opinion or feed back would be greatly appreciated.