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Updated over 5 years ago on . Most recent reply
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My crazy idea-Need Input
Of the bat I'm a newbie, I been wanting to start in real estate for years but for some reason I haven't. I set a goal for myself that in 5 years I want to be able to quit my well paying job if I want to( not that I will). I also want to be bake to retire by the time I'm 50(I'm 36)I have a house I own & got some equity built up. I have a family of 4 including myself. My question is should I rent out my house for about a year or so. Or should I just try to buy another house. If I rent this house the cash flow is about more or less 15-20k a year. So it's crazy to me that I am technically losing that much money a year per say. I also bought this house with a VA loan. Thinking about converting it into a FHA loan so I can use my VA loan later on. Need some input! I'm super hesitant in what direction to go. I will go in one eventually I know that for sure!Thank you so much for the input everyone.
Most Popular Reply
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@Juan Pichardo I highly doubt that you are getting actual cash flow of $15-20K. Look up the definition of cash flow.