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Updated almost 8 years ago,
Renting my house and buying another one
Hi Guys,
I have been planning to rent my house that I have been living in for almost 20 years. I want to take the advise of Rich Dad who said that your house is not an asset but a liability. Recently, my mortgage payment went up because I had to do a loan modification 5 years ago. Now the payment is almost unsustainable. So I figure, if I rent it out and move to a house hacking project, I can start my rental portfolio at the same time I'll have another place to live.
I'm just having a hard time with the thought of moving and I need a push to do it.
Any thoughts?