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Updated almost 5 years ago on . Most recent reply

Da Shiek Woodard's profile image
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Da Shiek Woodard
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Da Shiek Woodard's profile image
Da Shiek Woodard's profile image
Da Shiek Woodard
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  • from Washington, DC
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Da Shiek Woodard
  • Specialist
  • Washington, DC
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Buying & Selling Real Estate

What Would You Do First: Rental Property or Primary Residence?

Da Shiek Woodard
  • Specialist
  • Washington, DC
Posted

Picture it: Washington DC, 2020...

•$20K in cash allotted for real estate

•Excellent credit

•One rental property that cash flows $300

•W2 Salary $90K/yr

•Renting primary residence at $2200/mo

My question is do you think it’s more important to focus on adding doors to this portfolio or to purchase a primary residence to eliminate the rental expense?

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Russell Brazil
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Russell Brazil
  • Real Estate Agent
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ModeratorReplied

Purchase primary residence without question.

You have a monthly housing cost regardless of whether you own or rent....the question is would you rather spend that money helping to build your own wealth, or spend it to build your landlords wealth?

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