I agree with Chris. So everything he said plus I have some other input. Since I know the town you live in, I would say that buying a house that has a less expensive mortgage (maybe Roseville or Rocklin, even El Dorado Hills or Folsom) would definitely serve you well as you’re building your portfolio. We’re so fortunate that we live in an area that has no shortage of amazing school districts. I definitely wouldn’t go from owning to renting. Not around here. You’d be throwing your money away. There are some great houses in the $400-500k range in all of those towns. (For you non-Californians, yes that’s cheaper around here- gag). I’m of the mindset to live cheaply now to profit better in the future. I also have a rule that you only buy a home one income as well. That way you’re covered if one of you stops working (illness/injury/choice). Once you’re comfortable with your passive income, then you can reevaluate. We have no mortgages together. We don’t tie both of our credit up each time we purchase. Since my husband makes most of the money, he’s on all of the mortgages and I just go on title.
Let me know if you want input on houses too. And my agent/broker is amazing. I know people say that all the time, but I mean it. I’ll never use anyone else. I’ll hook you up with her if this is the route you choose to go.
