How would you move forward if you were in my position?

[Skip Gilliam]

Wife and I are in pretty good shape financially, make over 200k in W2 income, and have roughly 800k in retirement. Minimal debt mainly mortgage. However we have our house on the market, should clear 300-350k on the sale of this home. Leaving us completely debt free for a few days anyway. We will be buying a new home probably 400-500k range after ours sells. The sale of our home could be my first real estate deal. Custom build 2 years ago all in a little over $700,000 to build including the land. Paid $75,000 cash for the lot, and had to put up $100,000 for construction loan. Realtors think we will sell in the upper $800,000 range. Not a bad return "if" it sells. Would love to repeat this on next home if this deal works out. How would you proceed if you were in my shoes, my goal is to be able to quit my corporate job asap and have a steady income from real estate. Thanks for any feedback.

[Mike Warder]

What if, instead of buying your new home, you rent for a year, and use that money to put toward your new projects? If your plans work out, you'll need more capital, at least in the short term. I'd hate for you to have that money tied up in your residence. Just a thought.