All Forum Posts by: Jose Rocha

Hey everyone! My wife and I are planning to purchase a cabin in Big Bear, CA and use it as a STR on Airbnb and a vacation home. Would it be smart to use the extra cash flow after paying the mortgage to go to the principal and pay the mortgage sooner? Or would it be smarter to save the extra cash flow and possibly buy another home, whether a STR or a LTR in a different location? Or even do half and half, half go to the principal and the other half go to saving for a down payment??

What do you guys think?? As always, everyone's opinion is appreciated!!

Thabk you @Denver McClure!!

Very useful information. It provides me with different options of where to put my money to save for a down payment on a home.

Thank you @Denver McClure!! I will definitely look into this. I have a brokerage account so assume it would be something similar if not the same. I will look into the difference and what the best account is for my wife and I to save our money for a down payment.

I will definitely have a lot of questions as I like to learn! So thank you for the information, it's really appreciate!

Thank you @Andrew Syrios!!

I am excited to get started and to learn from everyone here.

@Michael H.

Thank you very much for information and your opinion. It's really appreciated!!

I will keep in mind the business account in mind when starting to purchase rental properties.

Hey everyone! I am in the 3rd chapter of The Book On Rental Property Investing and am really excited to begin this journey! I really like how involved and supportive everyone is on the Forum.

My wife and I bought our first home back in 2020 and luckily are able to rent out 2 of our rooms to help with the mortgage payment. We are starting to save to buy a second home by the end of the year and rent this one out to a family or group of friends. Any advice on w here the income we are saving should go into? I currently transfer this money into a High Yield Savings account, but can't think of another account that is safer or can help my money grow more.

Any thoughts? Opinions? Ideas? Tips?

I appreciate you guys!