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Updated almost 2 years ago,

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First time home owner regrets. Need advice!

Posted

Hey everyone my name is Mitchell and it's my first time on bigger pockets forum! I'm pretty new to learning about real estate and man have I been missing out! I recently read Brandon Turner's Rental Property Investing book and it's great. But the more I learn about real estate the more I realize all the mistakes I've made. I rented an apartment for 6 years, and then recently had a house built because of acreage passed down to me not realizing the cost and being taken advantage of by the contractor because of my naivety and loopholes in the contract. My wife and I had to use a big portion of our savings and a lot of our IRA for the down payment. Now realizing I could've used all that money to potentially house hack and not use our IRA at all it sucks. I don't know how I'd be able to get into real estate investing now with having a big mortgage payment. The only idea I have so far is renting out our house and buying a duplex using the house hack rule. Just wondering if anyone has other ideas. Thanks!

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