Best use of 20k

[Eric Reichelt]

Hello all,

My name is Eric and I am from Berkley Michigan. My wife and I are in our early thirties with a one year old girl. We have discussed and agree that long term rentals are the path we want to go down. I have the option of asking my family for money and I feel it's a smart move to get our first home while rates are low and the prices still work in our market. I'm asking for advice and direction because I have wanted to invest for almost a decade but have always doubted myself. So, again hello to everyone and I'm glad I found this community. Thank you for reading.

[John Knappmann]

@Eric, don't buy a home that does not throw off enough cash to pay the bills. Look at the rent and the payments. You might want to buy something in the 50k range in a decent city, but make sure you get a good deal for that neighborhood. Remember, there will always be another house listed next week.

@Joel, congratulations! Sounds like it is going to work out great in several important ways.