Owner occupied or a rental property

[Cosmin Posteuca]

I have approximately 60.000 $ and I don’t know what exactly is the best thing to do with them. I am living into a rental property where I pay 300$ monthly, for a one-room apartment/studio apartment. My Question is:

What should I do with the money I own?

Should I buy a property to live into and reduce my monthly expenses with 300$ or should I buy a rental property which will create a cash flow(probably approximately 300$ monthly) that will basically pay my rental costs.

What is the best strategy for my case?

P.S. I’m not living in US

P.P.S The money I own is enough to buy a property