I am new and excited any reccomendations?

[Chris Bendorf]

Hello and thank you in advance for your replies. O am 31 and I bought my first home with my wife 1 year and a half ago for 285k value is now 320k. We are in Sacramento Ca by the way. We both work full time and are renting out a room in our home for 500$ a month. We are looking at acquiring another property but not sure if we should just rent the current one out and buy our forever home, or invest in another property type. We are looking long term and to acquire assets over time but I'm feeling anxious and excited to get started. My first goal is to build a team of people as I am in banking but dont have real estate experience. I have also started reading books and of course listened to bigger pockets podcasts for the last few months and will continue my learning... what are your thoughts?

[Mike Gi]

When you look for your second home, see if the second home is fine if it becomes your primary residence.  If you rent your current home and look for primary residence, you will have better financing options since your first home is renting and generating some cash.  Be sure your current home is positive cash flowing if all rooms are renting.  The rate for primary residence much lower than for investment property

MG