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Updated 4 months ago, 07/30/2024
What to do after first purchase
Hello all,
I purchased a sfh in San Diego with a VA loan for 335,000. This was before i wanted to be a rental property owner, and was intended for me to live in.
I now live in Germany, with mother in law because we have a baby and prefer to live with grandparents for the baby, plus its free and clear and no rent.
Anyway, i am currently renting the property for 2300, with 10 percent management fee. And it is 200 dollers a month posiive cash flow after mortgage insurance taxes and management fee.
Where do i go from here?
Work my job, and pay down the current mortgage? Or save for another home downpayment?
Buy in san diego, or buy in Germany.
I didnt study finance or realestate, so my expertise is in another field. My goal is to own more rental properties, and was wondering whats the best strategy to achieve this, with regards to what to do with monthly excess money.
My family is very frugal and minimalist, so other than food and baby stuff and a monthly public transportation ticket, 10 dollers a month for cell phone, we have no expenses.
So what do i do with all my income?