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Updated almost 10 years ago, 03/11/2015
Buy a House or keep renting and invest?
Hello, I'm a 38 year old new construction plumber who has just moved back to CA from Hawaii. I lost my house in '08 and have started completely over. I live in Santa Rosa CA. and have almost paid all of my debt off. I feel that I need to invest in property this year (2015) so that I don't get killed with taxes. I have been told by a few people to buy a house first and then work on investment property later on in life.
Also, I am interested in buying property in the Phoenix area. The reason why is that multifamily properties in Phoenix are much more affordable than here in the Bay Area I have a brother-in-law who lives there and he can look at properties on my behalf.
I would like to know what the BP family has to say about 1) buying a house first and investing in property later on and 2) buying an investment property (i.e., multi family unit) in the Phoenix area.
Any and all input would be appreciated. Thank you!