I've own my single family home for 5yrs purchased at 129 FHA currently owe 99k. I've aggressively paid down a bit, but I know there can be smarter ways to invest my money due to the fact my intentions are not to live here in the coming years. In the years past before real estate bust my home sold very well and has potential. I've done a great amount of remodeling (kitchen, fence, bathroom). I don't want to miss out on earning that profit for my buy & hold plans for my future.
Plan A: is to downsize to a single family @ around $100k home. Due to the fact I don't have much to put down and the loan I was approved for required only 5% down but the new home must become my primary. I like this idea because when my current home reaches that right price to sell I'm definitely going to be able to pay off the plan A house in full. Which allows me to use everything I have to fund my buy & hold goals.
Plan B: Sell my current home now (probably can fetch 180k instead of 275k which it sold twice for in 2003,2007) and purchase a duplex or triplex, live their and start saving to make my way out of their and it will become a good income generating investment.
I'm sure I might have to plug in more details so please I'm excited to hear some words of wisdom
