First investment property

[Jerell Edmonds]

Hey everyone wanted to say happy holidays to everyone. So I have a question. My father is willing to sell me his house below market let’s say for example 160,000 but the house is worth 232,000. The house is in pretty good shape as well 4 rooms 1 bath 1264 sq . Now my plan is to buy the house but in the long term prospective of this also being my first investment property to get me started as well I’d live in it for the time being . Then I was thinking maybe down the line taking out the equity to buy another home. Then using my 401k for another down payment on a house . Any advice maybe jumping in to quick ? Any advice would be much appreciated.

[Tchaka Owen]

@Jerell Edmonds - is it too soon to purchase a property that will give you immediate equity of $70k with no mentioned downside? Hmm, that's a tough one.