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Updated about 7 years ago,

User Stats

55
Posts
38
Votes
Jonathan Edmund
Pro Member
  • North Myrtle Beach, SC
38
Votes |
55
Posts

Buy A Primary Before Purchasing First Rental?

Jonathan Edmund
Pro Member
  • North Myrtle Beach, SC
Posted

I have recently decided to pursue long term rental properties part time as being a Realtor in my area is my full time job. I currently have held off on purchasing a primary residence due to wanting to pursue rental properties. I wasn't sure if it was a better idea to incur the debt of being a homeowner before having 1 or 2 rentals under my belt first. As a first time investor, do you recommend finding a good deal and using the property as a rental property first or with the first deal, using it as a primary for a year, then renting out and moving onto something else?

I currently don't have much debt besides a small amount of student loans and a car payment and my monthly living expenses. I'd like to weigh the pros and cons of both options if possible. Any input is greatly appreciated!!! My end goal is to eventually move out of full time real estate and be a full time investor.

  • Jonathan Edmund
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