New to real estate

[Jim McVay]

Hi everyone!

I’ve been listening to the podcast for a while and I’ve always been interested in getting started with real estate. 

I built my first home in 2019 and recently decided to downsize. I was able to completely pay off my previous mortgage and I am left with a little over 250k cash. 

Originally, my plan was to go the Dave Ramsey route and use the 250k to pay off my new home. 

Now, I am thinking about keeping my new mortgage and using the 250k to invest in real estate with the hope of creating some passive income. I plan to put the money in a CD for the next year or so while I expand my knowledge base, and allow this market some time to cool. 

I’m here to learn and if anyone has ideas on how I could improve this plan, or advice on where I should start, I'm all ears!!