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Updated over 6 years ago, 07/01/2018

User Stats

8
Posts
1
Votes
Duane Whittaker
  • Georgia
1
Votes |
8
Posts

57 years old and just started buying rentals. Any ideas?

Duane Whittaker
  • Georgia
Posted

57 years old, recently gave up on 401K (interest rates are terrible past few years) and got 1 family home rental. A more stable of building wealth is to have as many rental properties as possible before I'm forced to retire from my physically demanding job, The safer route seems to be to pay off the mortgage rental as fast as possible, which I'm doing. Then, I'm not sure if I want to go the safer route and save for another rental (from the income of my full-time job and the 1st rental) or finance the 2nd rental (and have two rentals and my income pay it off). If my area didn't have houses For Sale on the market for so long, I would fix and flip. So that option is out for building wealth and buy rentals faster. Any other low-risk options or should I stay on the track I'm going, pay as I go??? Thanks

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