Rachel N. Yes, but not in the way you're describing. We moved to Orlando last summer from Wichita, KS. When I started looking around at real estate prices, I was like, "Wow, this place is really expensive." Closing on our house in KS was not going to coincide perfectly with our move, so we started looking for a rental to live in.
After selling our house, I started looking around for places to invest the money for the next year. The plan was, after our lease was up, we would then take the money that was invested and buy our primary home. However, I discovered BP and REI when looking for a place to invest the money. I also sold an inherited small apt complex that I owned with my sister, and did a cash out refi of an accidental rental property we owned in Birmingham, AL. So, over the course of last year, I purchased four turnkey properties and a small fixer from a wholesaler in the Midwest. I'm currently under contact to purchase a duplex.
So, in answer to your question, yes. We would love to have a primary home for our family. However, we have some very nice cashflow coming in from our rentals and want to keep increasing it by buying more. So, we're willing to sacrifice for the next few years to increase our income via REI. And frankly, it's really not a sacrifice as we're renting a nice townhouse.
I have become really interested in REI and want to become a more active investor by increasing my knowledge and taking action beyond purchasing turnkeys. This is currently the track we're on which wouldn't be possible if we saddled ourselves with a fat mortgage payment not to mention having to save for the down payment. It is hard for me to think of purchasing a home with money I could use to purchase another rental that would further increase our monthly cash flow.
