I'm here to learn

[Derek Harden]

Hello everyone,

I am a new real estate investor looking to jump into the real estate pool. My wife and I are in our mid 30's and are currently at Coast FI via index fund investments through retirement accounts. I am interested in utilizing long term rentals as a way to cover our required income needs so that we can live a true FI life. 

Issues that I am looking at right now are:

-We are both 1099 contractors so it seems that lending will be difficult to acquire 

-I only have availability to a down payment of $29,000 in my Roth IRA (contributions) as long as the numbers show an equal or a better return than what can be expected in the market

-We intend to build a home by 2025. Will having investment mortgages affect my availability to acquire a personal mortgage? 

The plan at this point is to preferably invest locally here in Michigan but if numbers show that investing remotely will produce better cash flow then I am not against doing so. 

I look forward to learning from the community!

Derek