Pay off our house first or get rental property first?

[Yejee Sim]

Hi, my name is Mia and my husband and I are living in Overland Park, Kansas.

So, I am interested in buying a rental property but, my husband is not totally on board yet. It's because we purchased our first house in Dec 2019 (so it's been about a year) also it is quite expensive house (a brand new house). Although, we put 20% down payment, the monthly mortgage came out to be about $2800 a month.

Our yearly income all together will be about $200K or more. I do think that it is better to have rental property and make cash flow.. however, I don’t think my husband wants to take a risk by taking more mortgage for rental property.

On the other hands, he wants to finish our basement so that’s one of the reasons why he doesn’t want to start to invest in real estate yet.

What do you guys think?

Do you think it is a good idea for us to have rental property at this time and making more cash flow??

Or pay off our house first and then start to think about rental property?

Thank you.