Buy for myself first? Or by rental property?

[Tony Dragoo]

Hey guys just joined the site, love it! Was wondering if you would suggest buying a house for yourself first vs renting Or buying a rental property first? If buying a home for yourself first would the bank let you buy another property to rent out?

[Jay Hinrichs]

@Tony Dragoo 

  I think that is a regional question and a market question.. if you in a non appreciating market and I would describe that as a market that moves 1 to 3% a year if your lucky compared to say SF Bay Area.. then I would not worry about owning .. but if you west coast  upper east coast DC  and other areas were you can get priced out of entry level I would buy first.   but that's just me.

One reason I would buy in an apprecitating market is that your first 250k profit as a single person I s tax free and 500k as a married. Now I know many mid west and other market the houses will be luck to move up in value 20 to 50k in 20 years.

But if you look at CA.  and I look at what happened to me personally over the last 40 years I made Damn close to 2 million tax free on just my personal residence's.. so I really never bought investment properties .. why should I ... I made money flipping.