I have 100k saved - Buy Turnkey Properties or Buy Personal Condo?

[Colin Gleason]

Hi All - 

My wife and I have 100k saved and we live in the Chicago. My wife would like to buy a Condo in the downtown area that would cost us about 2k a month in mortgage payment with our savings. I would like to use this money to buy multiple Turnkey Properties that would hopefully get us around 2K in Cash Flow and then live in our same apartment that we rent at 1,800 a month. The hope is that I can keep purchasing properties with the money we gain from the Cash Flow from the Turnkeys. Our "disagreement" has brought me to the forums. Any advice on what people would do would be greatly appreciated.

Thanks,

CG

[Jessie Niu]

I personally will never buy a condo because of HOA.

instead of staying in the same apartment, why not buy a duplex/multi-family and owner-occupy one unit?