Hello from New Jersey

[Michael S.]

Hi everyone,

My name is Mike, and I'm a new member from the south jersey area. I have found myself in a predicament with the current market and subsequently I am interested in long-term real estate investment. I have been considering ways of generating passive income in the world of technology, I work full-time as a systems administrator, and I had never taken real estate investment seriously until my wife and I decided that we wanted to mov recently. The BP podcast is great, I've just listened to a few episodes thus far, and it seems that the community here is excellent

My wife and I purchased our first townhouse just after the peak of the marke and we are now considering the possibilities of refinancing, renting the property, doing a lease option, living here for a few more years, etc. This way we would not be walking away from the money we have already paid into our townhouse by trying to sell in this market.

I plan to write up strategies for each of the options and work through the numbers to do what is best for our current situation - but also to get involved with real estate investment long-term to gain financial independence and build supplemental income.

I'll probably post in more detail about this outside of the new member section. Thanks for reading this, and thank you in advance for any advice you might provide. I hope to meet some knowledgeable and successful folks on BP!

Mike