Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

9
Posts
0
Votes
Juan Pichardo
  • Rental Property Investor
  • Bay Shore, NY
0
Votes |
9
Posts

My crazy idea-Need Input

Juan Pichardo
  • Rental Property Investor
  • Bay Shore, NY
Posted

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

User Stats

2,285
Posts
1,995
Votes
Anthony Dooley
  • Investor
  • Columbus, GA
1,995
Votes |
2,285
Posts
Anthony Dooley
  • Investor
  • Columbus, GA
Replied

@Juan Pichardo I highly doubt that you are getting actual cash flow of $15-20K. Look  up the definition of cash flow.

Loading replies...