All Forum Posts by: Phil Avery

I currently own a house. I would like to start investing in more properties. I’m also interested in the 
Move Up and Lease Program 5 houses in 5 years! Should I sell my home in order to have the funds to buy my first investment property? Any suggestions would be appreciated!

Hi all! My name is Charity Miller. I am from the Houston area. I currently work full-time, raising 2 kids with my husband, with the dream that I can quit my job one day and take control of my time and future. Just starting my journey with REI and looking forward to building my network of other investors, agents and lenders. Hoping to get my first property under my belt in the next 90 days.

In my area, I can find split level homes.  Often, the lower level has the laundry ( water, elec) and a bathroom.  I changed the laundry to a kitchenette.  Build new laundry in closet or garage.  I added a new exterior entry to the lower level.  

You are doing a great job at saving!  Don't rush.  You will have a lot more options next year.

Congrats.

@Phil Avery

Considering your financial situation and the current market conditions, each of the options you're contemplating has its own merits.

Given your inclination to begin with a significant amount of equity, option 1 may be a good fit for your objectives. But, it's critical to evaluate the state of the local market, your capacity for managing several properties, and the possibility for cash flow.

If you see great potential for long-term appreciation and are okay with the higher property price, option 2 can be a good course of action. To guarantee a good cash flow, make sure you thoroughly run the figures.

For a greater investment, Option 3 gives the advantage of patience and a higher down payment. If you want to increase the size of your financial buffer or are having trouble discovering possibilities in the present market, this might be a wise decision.

Ultimately, your decision should align with your long-term goals, risk tolerance, and local market dynamics. Continue researching and networking to gather insights specific to your area, and don't hesitate to consult with real estate professionals for advice tailored to your situation.