I grew up watching my parents invest in real estate, and grow their net worth this way. I have had the opportunity to dabble myself, and how recently purchased a few homes, but concerned I am missing the boat on how I should be handling these investments.
I have 3 properties, working on purchasing my 4th. They are as follows
The 3 are all located in Phoenix, AZ and all rented
1: paid $180k was rented before it closed, paid cash with an HOA of $200 monthly and rent of $1300
2: paid $135k was rented in 1 day, paid cash with an HOA of $200 and monthly rent of $1100
3: paid $215k rehabbed total $260k mortgage on property is $100k with payment being $800 a month, and HOA of $50 a month rented for $1475
4. looking to buy a house in Colorado, where I will rent it out and also live in it. So hoping to put 20% down and pay mortgage in full with income from roommates.
I am 27 with a stable job, but being newly out of college I don't want to take on too much risk. I make a fair income, purchased these by saving and help. I save all the rent that I make monthly which is currently about $2,500 a month but I know that the cash flow is low. I am wondering if I should mortgage them and invest this money in the stock market ( I would have to pay a planner though cause I don't know the market at all).
I would love some advice about what I should be doing or am possibly doing wrong! Thank you in advance for your time I appreciate it!
