Quote from @Dan H.:
Are you planning on living with your parents long term? Are you going to rent after moving out of your parent’s home?
Likely the reason you are expecting money from your marital home is due to appreciation. Have you calculated what your appreciation has been per month over your hold? The reason I ask is i expect it dwarfs the expected cash flow from you OOS RE.
doing value adds are tough enough to do local. I would not suggest a RE investor start by attempting an OOS value add. I think you would likely do better combing house hacking with a value add than attempting an OOS value add.
Good luck
Thank you! I appreciate the generosity of sharing your opinion and knowledge.
I was planning on being at my family’s house for at least 1-2 years. There are some bigger updates/repairs that I will lead here since my parents need help with that and I could add these jobs to my work portfolio. They also help me with my daughter so it could be a longer term thing. My dream is to find our forever home eventually though.
I thought about house hacking and living in one unit however I would not be okay with HH in a room in a SFH. I’m just not built like that and I have my daughter FT so yes I have thought about trying to find a duplex or getting a SFH and converting the garage or building an ADU
in terms of the marital home, there’s a good deal of equity there however I need to split that with ex husband. RE agent has showings scheduled for Monday *fingers crossed*
How does one calculate appreciation per month? I’m still learning calculations and percentages and all that jazz
