Updated about 16 years ago on . Most recent reply
ready to buy
so i recently received my pre-approval for a home loan (100% @5.5) and am searching for my first purchase to be my primary residence. i am excited to say the least since i have been lurking on this site as well as others and am wanting to get into rei as part time cash flow realizing independence some day.
my question is this... in this market with homes on the cheap right now would it be inconceivable to refi in the near future to get started in "rentals"? now i usually live by the rule "go big or go home" but in this case i'm willing to start small buying maybe a duplex or 4 plex and pulling equity out for more purchases over time.
i am in no hurry to be rich i just want to see roi and positive cash and be comfortably independent someday. i would like any feedback and i dont expect people to pull any punches so swing away. am i thinking wrong here or is this doable (obviously simplified of course)?
thanks to you all in advance... :idea: :idea: :idea: