Stuck - investment property or primary ?

[Stephanie Sicard]

Hi everyone ,

So I’ve been studying real estate for almost a year now and have wanted to jump in months ago . I live in Miami , where the prices are really high and for the most part , it’s not great for investing . For example a 2 bedroom house starts at 290k . Due to this , I started to look in Jacksonville . The prices are great and you can find a lot of great deals , which I did . Some houses are 50k and up and cash flow really great. I decided to look for a lender and immediately ran into my first obstacle : most lenders do not do loans in that amount (50k , 60k) .

I’m currently renting and also want to get a primary home so I can actually pay my own mortgage instead of someone else’s . I thought to myself , maybe I should look for a primary home first and then try investing. I was going to look for a home that would still make sense even after I moved out . I started analyzing properties in the Miami area and none of them have made sense so far financially . When I move out , I would be cash flowing negatively. So I’m basically back to square one , and am unsure of what my next step should be . I want to get clear on what my goal is and stick to it . I also want to get started now , But I just feel stuck and I’m not sure whIch direction to move in .

Does anyone have any advice on my situation or has been through something similar when starting out ?