Looking for ideas on what you would do!

[Brandon C.]

I've been on the site off and on for a while. Past 6 months or so have allowed for my wife and I to explore getting into the real estate world.

My wife and I are 34 with 2 kids in elementary school. I make about $75k working in the corp world and my wife makes about $38k as a teacher.

We have no debt except for our house. We owe $250k and house is worth $350k-ish. I put extra $$ to the house each month to get this thing paid for.

We have credit scores around 800-810. $150k in retirement and $25k in liquid cash.

In May, I will receive a lump sum of $50k. I thought about putting it all towards our primary house, but I want to turn it into an income stream.

Since I'm new real estate I don't want to get in over my head. My thought was to buy 2 condos at $100k each and put 25% down on each. I would probably look at getting one condo by end of summer and the other by end of year if all was going well.

If I get $1k a month in rent, a 30 year note would

be $380, minus another couple hundred in ins, HOA and property taxes. In the end, I'm estimating my cash flow would be $350-400 per condo per month.

What would you do if you were in my place? What would you do with the $50k? Looking forward to your ideas!!! Thanks!!!!