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Updated over 8 years ago on . Most recent reply
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Is your home just another property?
I just started looking for my second property which got me thinking about the role of my home. Is it important to separate your home when thinking about real estate investing? I'm curious if anyone has an approach/philosophy on how to think about your own home relative to investment property.
- Do you think about your home differently in different market conditions?
- Do you separate it out entirely?
- How do you think about selling/renting your existing home when you're ready to move on?
Most Popular Reply
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My home is my home. It doesn't get counted when people ask how many houses we own, it doesn't get mortgaged for the business or anything. It's where my wife and my dogs live, and it's untouchable. It is their home. No matter what problems I face outside, when I come home, there are no problems.
We do have a new house we're moving to, that will become home, and the previous place becomes a unit. Simple as that. But the same rules apply. Absolutely nothing gets attached to the new house.
I have never understood investors who put their homes on the line, as ultimately, you are risking the roof over your family. Never understood that.