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Updated over 3 years ago,

User Stats

21
Posts
13
Votes
Briana Phelps
  • San Jose, CA
13
Votes |
21
Posts

Buy my own house first or invest in real estate?

Briana Phelps
  • San Jose, CA
Posted

I live in San Jose, CA and the largest dilemma I have now is whether I should start investing in real estate, then save up another deposit to buy my first home, or vice versa? The reason I would like to purchase a home first (it would be a mobile home, because this market is crazy!) is due to the fact that I pay extremely high rent. At least with my own home I would pay a high mortgage, but it would be toward my own home. Though, purchasing an out of state home and collecting some profit could allow me to save up for another deposit, while renters pay toward my property sounds appealing as well. If I go that route I see it as, that additional profit going toward my current rent, so I am still dumping money into someone else's mortgage.. 

What was your experience starting out and what advice would you give?  

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