My scenario and your advice

[Nana K.]

Hello BPers,

I really do enjoy reading your post and also your blog. I wanted your take on my situation.

Monthly income is 6000. Expenses is 3000. Stopped 401 k contribution up to employer match.

With this, how do start a buy and hold strategy?

My wife will be finishing residency soon and we know she will be bringing in three times what I make now but I wanted to start REI now so I will master it and when she is done with residency and I can be a full time investor. I have prequalified for loans at 4.8. % with 90LVT on homepath homes or 20% down for all other homes up to 10 homes a lender. I have really researched a lot about REI and read many books and asked so many questions. I know am ready to pull the trigger but cash money is holding me back. I am a new medical professional and sent a lot of money to my homeland and thus less less savings. There are numerous turn key homes the market am looking at and many are the usual 3:2 @70000 and comp rent are 900 to 1100. Great school districts. All advice and criticisms welcomed.

Thank you.