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Updated about 1 year ago on . Most recent reply

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First post! Want to get started but need direction

Posted

I’m not sure how to start this post so I’ll just get right to it. 

I’m 34 years old working active duty for the National Guard. I own a 2400 sqft, 4br/2ba house on 0.95 acres that’s paid off. I own another property that is also paid off - 6.2 acres of land that had an old single wide that was falling apart on it that I recently tore down. It has all of the utility hookups already so that saves me from having to spend much there. 

I currently live in my house on the weekends but I stay with a friend near where I work during the week because it’s 2.5 hours away and I don’t want to drive 5 hours a day.  The land is much closer to where I work and I plan to put a manufactured home on it.

I bought the land last year but I’ve been in this situation for the last 4 years. I know that I’ve left a lot of money on the table as I could have rented my house out long ago and made  quite a bit of money. I’m ready to get started now and I’m looking for advice on what to do. I have an idea on what I want to do but I’m not sure how to begin. I’m just looking for advice/direction. If any additional information is needed I’ll be more than happy to provide. Thank you. 

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Benjamin Aaker
  • Rental Property Investor
  • Brandon, SD
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Benjamin Aaker
  • Rental Property Investor
  • Brandon, SD
Replied

Hi Christopher,

When you find that you are all over the place on making a decision, it's usually because you don't have your long-term goals clear. You said in a previous post that you want to live in the house in middle-TN and pass it down to your daughter. Consider whether that is your long-term goal, or you would be happy with passing on some other place to her (or a bunch of cash). Maybe discuss it with her if she's old enough. Before doing anything else with these properties, make sure you have a vision for your future and that will guide you. Once you have that vision, let us know and I bet we can have some more focused advice.

  • Benjamin Aaker
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