NEW TO REAL ESTATE / First time Buyer

[Chris Sigler]

I'm desperately trying to find routes into real estate. I have a well paying full-time job so I'm looking to use the money towards setting up a better future with real estate investing. I've listened to many podcasts and read a few books. I'm aware of many different methods, however, my wife is really persistent on us buying our first home (living in apartments for 6years now). She is totally on board with getting into real estate and taking the risks, however, she just wants to be a homeowner and get our own place first. Can someone help guide me in a direction where I dare say "have my cake and eat it too"? I'd like to get my own house FINALLY as well as start investing. If anyone has any advice/guidance/successful experience with the same situation please let me know. I'm currently in the Dallas/Ft Worth Area.

[Javonte Hardiman]

Hey Chris,

You can do both. Purchase rental properties and buy a home for you and your wife. But obviously, you'd have to pull the trigger on one or the other, first. So it all boils down to which makes more financial sense to you and your wife; getting your first home which will be a beautiful liability or make the big step towards passively securing your family's financial future and establishing cash flowing portfolio. You should be very logical and clear with her in this situation and explain to her the smarter move.  I personally use the strategy of own where I don't live and rent where I do live. I learned this strategy from my mentor who is a multi-millionaire real estate investor living in a nice and spacious apartment building in a great location.  I own rental properties in Milwaukee while also house hacking a duplex. As well as using wholesaling as a quick exit strategy.  I set a goal not to purchase a home aka beautiful liability until I net 20k a month in passive income.  If you're ever interested in pulling the trigger in markets with unique price points on investment properties, great locations, and great returns, pm me and I can shoot you over some of the deals we come across.

Hope this helped.