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Updated over 6 years ago,
Wanting to sell, but then what?
BP,
I'm wanting to get into the real estate business. The idea of "passive income" fascinates me. The issue I'm having is uncertainty. We live in a townhouse we're paying a mortgage on. We've got about 20k in equity. The housing market here in Utah is very high. I'd like to sell our townhouse and move to a market where duplexes are ample and renters are plenty. I'm not even sure if such a sweet place exists. My wife is fine with the idea and our 10 month old son seems to be okay with the idea also. Anyway, I've qualified to buy up to 260k. But I'm not sure how to go about that if I quit my job to move, the funding will most likely go with it right? How do I get into the real estate business? We're pretty flexible and would be interested in moving almost anywhere. I've got the desire, just trying to decide on the path. Any insight or recommendations?
Thanks,
Trevor