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Updated over 4 years ago on . Most recent reply
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Is it realistic to purchase while still renting?
My lease won’t be up until next July.
I really don’t want to wait that long to start investing into rental properties.
Is it feasible to purchase now despite still renting?
Most Popular Reply
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More real estate investors than you know rent while buying real estate. The house you live in isn't an asset unless you house hack (rent the rooms, units you're not living in). Renting your personal dwelling while owning and renting other houses, duplexes or apartments is a reasonable approach, and...
Perhaps patience is a decent idea for you in this situation, because you may come out way further ahead if you wait to buy until July. If you are willing to house hack, that one choice will put you so far ahead of most investors acquiring their first property, you can hardly quantify it.
Plus, the election may well have an enormous impact on real estate prices. Also, you could use this moment to set up an investment account that would position you to build cash reserves even when you buy real estate in the future.
Consider researching infinite banking. Cy Kueffer has some great videos on the concept. You'll love Wealth Nation's videos. Nelson Nash is credited with inventing infinite banking. If you have the savings to buy right now, setting up a bank on yourself could accelerate your investment journey by double or triple.
Best of luck to you, however you go forward!