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Updated 19 days ago, 12/05/2024
No more mortgage payment, but not yet FI/RE: How should I utilize these funds in REI?
Hi Everyone!
I recently started with a new company that is paying for my housing, vehicle, and fuel. This has freed up my income substantially from where I was working previously. Looking for thoughts and suggestions on how to utilize these new funds for real estate investing. Please consider the following:
- Monthly savings: ~$4-5k
- Full time job: Traveling and always relocating
- No real estate currently owned
My wife and I have long term goals to live on a remote ranch and would like to use real estate investing as a means to get there. I don't necessary want to quit my job but having the option to do so is desired. We are both very hard workers and have a lot of ideas such as saving to buy investments in cash (takes a while), using private lending and keep the savings as an investment rainy day fund, and others, but it always helps to get a second opinion.
Any recommendations on ways to best utilize this new income would be greatly appreciated.
Thanks!