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Updated over 6 years ago,
Should I stay rent or sell
After my grandfather passed I was given his house at 18 and moved in at 22. I'm do home renovations and I plan on dipping my feet into real estate next year. But I'm stuck on the fact on what is a smart decision to do with my house. Should I raise my credit score and take a first time home owner loan and get a house in an area I like and have tenants? The problem I see with that is the rent I collect would pay for my mortgage instead of going in my pocket but is that really a problem ? Should I stay in it and use my job earnings to save up to then begin real estate? I have no mortgage so my bills are all small. I have no reason to sell my house the money would be great but id have to get another place would it be smart to get an apartment and use the rest to see if i can begin real estate?
I would love replies on what you would do and why. If you can help guide the way for me if greatly appreciate it even with tips on how to begin real estate with the situation I'm in.