Las Vegas, NV · Member since 2018 · 7 posts · 0 votes
I am closing on selling my first home in Las Vegas in a week. My plan is to rent for a year and buy again. I have a roomate that will split rent and help me save money for a year.
In the mean time I will inquire about 15-19k from selling my house now.
I want to invest it back in real estate for when I buy another home with it but I don't know what I want to do. Whether I get a townhome or condo which is in my price range. But I want to invest my money and try to get in the game or renting out houses eventually.
What should I do with this fresh start of 19k for a newbie wanting to pursue building a portfolio and renting over time?
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
6y
If you need the money in a year it’s going to sit in a bank and earn you about $15/month. Nobody can tell you the stock market will be up or down in 1 year. If you have any debt you could pay that off and then put the payments you would have made in to the bank.
Ps. Why are you waiting a year to buy your next house? Prices could easily go up $19k in the next year. Then it’s like you set that money on fire. If they go up 1% you’ll be worse off then buying now. (You’ll earn 1% on your $19k while your $200k+ purchase price also goes up 1%.) unless your 100% sure prices will be lower in a year you’ll be worse off than today.
Las Vegas, NV · Member since 2018 · 7 posts · 0 votes
6y
Thank you. Honestly I don't know any temporary places to stay that's only for a few months. Most leases are 12 month that works with my location and budget I'm looking to spend but I definitely see your point in getting in something again before the market goes back up.