Updated over 5 years ago on . Most recent reply
New to bigger pockets
Hey all,
New to BP, love the money show and will listen to the REI one on occasion too.
My wife and I have just paid off our New primary Residence (In cash) and are fixing up our first home for sale.
As we are 31 with a paid off home that is big enough to support us long term so with that firm footing we are going to start investing in real estate to supplement and eventually replace our incomes and the way will do it is thus;
-Save a 20% deposit- roughly 80k (the cost of housing here is high but the maths works well enough)
-use all tenant income and a good chunk of our working income towards paying down the mortgage aggressively.
-Refi, cash out and buy the second and third.
Based on the specifics two maybe three will get us to our goals and while there is a lot of leverage left on the table that could be seen as wasted it actually buys us a lot of time with our young family which is our why for getting involved in real estate.