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Updated over 7 years ago,
Selling Stock portfolio for REI
Hi Everyone,
Until finding BP maybe 4 months ago, I had been focused primarily on my corporate 401k, IRA, and private stocks in my Robinhood account. Last month I closed on my first property (3/2 condo where my roommates are paying $80%+ of my expenses), and after that closing I have $43,000 available ($18,000 cash, $25,000 in private stocks.) I'm 25 and didn't start making enough money to care about stocks until late 2015, and since then they have hovered between the "standard" 7-9% growth (though 2 years is hardly any time, I know).
I've been looking at duplexes in Indiana, where I grew up, listed around $80-100k, knowing I'm pre-approved at 25% down and 4.75% interest, and my question is this--has anyone out there bit the bullet and dumped their stocks in order to continue their real estate ventures? Admittedly, I've grown attached to that portfolio, and my goal has been to wait until my cash reserves are enough to close on a new property without ever needing to tap into my stocks. Is anyone else facing this situation, where they've refused to tap into their other investments for real estate?
Appreciate your time,
- Derek