Sell our home or invest in it?

[Marvin Perez]

Hello,

  I'm new in the forum, want to start investing in Real Estate. I have a question on what would be the best approach to invest. We have a big house in a growing area in Orlando, FL. Paying out mortgage is not that easy, we are considering in selling our home to buy a smaller one, but this area in under development, so I know our house will appraise more in the next few years. We barely make it to pay everything, we have no extra money to invest. So, if we buy a smaller house we will be more comfortable making the mortgage payments and have some money to invest. But, I was thinking also what could we do and make our big house an investment property. I know is going to be super difficult to rent to a single family due to the price and we cannot afford to have any vacancy nor losses. Any ideas, what should we do?

Thanks;

[Antoine Martel]

Marvin.

I think that selling your house and moving to a house where you can afford the payments is a smart move.

That will allow you to save you cash which then you can invest that cash into assets that will produce cash flow for you.

Your personal residence is not an asset. It's a liability!