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Updated almost 8 years ago,
I'm ready... Please help!
I'm 28, married with 3 beautiful children and am ready to make the jump, I'm ready for change. My problem is, I can't make up my mind, I don't know which direction is best for me.
Quick run down:
-I'm from/live in Western Canada(BC)
-11 years construction experience(everything except plumbing and electrical)
-94k gross and my wife is a stay at home mom
-A car payment, cell phone, and a $1500 credit card are my only debts.
-We live in a outdated SFH purchased for us from a family member, $410,000 value right now, I'm not on the title for another 5-7 years, when I will be buying it back for $250k. House is right beside a new sub division that went for as low as 620's and 1 as high as 1.050, but for the most part mid 700's.
-Reno's are out of my pocket but all I'm paying for is material.
-20ish comfortably to put down, 30 if I stretched. Going up every 2 weeks though.
So, that's my rough and dirty run down. Where should I be going with this?
Focus on buying our house ASAP? Build and sell a couple properties as I have experience doing, just not actually for myself. Buy and sit on 2 1 bedroom condo units for the 5-7 years? REIT?!
I know I lack funds to do some things, but I am in no rush by any means, and am looking at the bigger picture.
I have a passion for real estate(especially new construction) and this is what I want to do with my money. I've looked at stocks and I think Real Estate is my calling.
Thank you for reading, and any piece of advice you may have.
Best of luck to everyone!