Advice on Purchasing Additional Property

[Jason Middleton]

Hi, I have a single family rental in N California. It’s worth about $340k and I’ve got $150k left to pay. I’m currently overseas, and will be moving back to the US in Apr 2023…this year, for 2-3 years…maximum. I’m torn between moving back into the rental or continue renting it out and purchasing another home to live in while I’m in the U.S.  If we moved into the rental, we’ll need to put at least $35k in it to feel comfortable living in it. Also, I’m thinking… buying another home could increase my wealth, and when I return to Europe, we’ll have 2 rentals. I’m a retired veteran, and I have cash (that doesn’t mean I want to use all my cash 🙂) for a down payment to purchase another. So, the question is…should I keep the rental, and purchase another home, live in it for 2-3 years and then turn it into a rental?