All Forum Posts by: Chuck K

I just purchased a new residence and I've been debating what to do with my older residence. I thought it might give me a "foot in the door" into the world of real estate investing. I have about 50K of equity in the older residence, can afford both mortgage payments for the foreseeable future, and my current career allows me the freedom to devote some time to REI. My motivations are two folds: I would like to own (and grow) real estate as part of my overall financial portfolio, and second, wait for more favorable market conditions to sell any portion of real estate that I acquire in the near term.

I am considering renting or seller- financing the old residence to generate additional income that can allow me to re-invest into acquiring additional properties while learning the ropes of the business. Does that sound like a reasonable strategy for a beginner? If not, what would you recommend? Thanks in advance.