All Forum Posts by: Marcus Norman

Good day, question for you all! I currently own my home and have been renting out bedrooms in my 4 bedroom house, with much success for the past three years. It was my first home but now I feel like I'm missing out on a bigger real estate opportunity by not purchasing a multi unit property instead of this single family home. My house is worth $230,000 and owe $188,000 on the mortgage as of today. Should I sell my house, use any excess profit I make to purchase a duplex and start over from? Or do i stay where I'm currently at, continue to rent out rooms instead of whole units, and save money to purchase a duplex further down the road? I feel like I'm running out of time because mortgage interest rates are still pretty low and it is only a matter of time before they go back up again. Any and all feedback is much appreciated

Sincerely,

Marcus

Hello to everyone. I just signed up for this forum today and look forward to getting to know and meet more and more senior and new real estate investors to the industry like myself. I have lived here in Virginia since 2011 but have been managing my property for 2 years now and I am finally comfortable with expanding. I thoroughly enjoy real estate investing and feel this is the correct path for the future as mortgage and bank interests rates will surely go up and would like to expand my knowledge as well as my portfolio with people of like-minds. I still have a ton of stuff to learn in this ever changing market but am excited to ride the wave of adventure that comes with real estate investing. I seek to gain a better understanding of "Purchasing & Holding" deals, listen to the success stories of others, and compare notes of the best place to find start-up capital outside of traditional methods such as a bank! Feel free to contact me and I look forward to hearing from you.