All Forum Posts by: Jessie Keating

That is a really good point @Jay Hinrichs - There is so much equity in the home I know I could do something great with it, and tax free makes it much more appealing. 

@Shiloh Lundahl so very nice to meet you! I would be interested in more information about your meetups, I am not far from there! I am very grateful I found some fellow Gilbert-arians! 

Thank you for the tips @Jake S.! Yes if I rented it out today, after PITI, HOA and landscaping I would have $700/month (which of course some I would need to put aside for future repairs and such). I am not sure if I can get that much right out of the gate if I purchased a new property because I can only put 20% down. But I still need a place to live, and moving every time I get a new rental doesn't seem ideal (or am I being a baby??)

Hi everyone! My name is Jessie and I live in Arizona. I was looking to educate myself in house flipping, so I went on Amazon and looked at the top rated books on real estate investing, not noticing the Bigger Pocket books was on rentals. I have been a landlord twice before and it was an ok experience, but I didn't think that would help me reach my financial goals. I read the book anyways, and was so inspired I am having my mom and best friend read it as well, and I changed my WHOLE investing strategy. 

I realized I have a great cashflow opportunity in my primary home, so right now I am watching the forums and listening to the podcasts to help me decide to either rent out my primary and purchase another home, or stay in my primary and purchase a rental. I do have money for the next home through savings and an open HELOC on my primary (which is currently at a $0 balance).

I most struggle with the idea of delaying the purchase of my own personal property. My original plan was to sell this house and dump the equity into my next home (I am dying to have a pool). However, I realize that my bigger goal is to have income replacement, and rentals might be the better strategy to get there.