Hey BP community, newish investor in Spokane WA, looking to expand my portfolio, I have 2 long term rentals now and I’ve decided to stop viewing it as a HOBBY and treat it like a business.

Is the purchase of the new property like a fresh start where I now decide what portion will be my principal residence and what portion will be rental?

When they ask, toss a slightly higher number out there or go all in and tell them your lowest price and let them decide.

Account Closed I thought about following up with another fish joke and decided against it.

I had a similar issue when I bought my first property so I went the turnkey route and got my first property for about 20k all in, including closing costs.Then I decided I wanted to buy something with a bit more built in equity, so I bought my second one in a different city and state.

That's what Financially free means to me and REI was just the way I decided to achieve it.The other issue is "people would love to buy assets in hot markets, but I think it comes down to the initial cost of investment and people's goals."

It got to the point where I knew that I had to just take the plunge and decided that I would be capable of putting in the hard work to become successful.

Yes your return will be less than you're used to but it will eliminate the majority of your headaches if you can find a good property manager.If you do decide to sell, selling one at a time will probably net you the most.

So if you decide to rent it, you need to tell your mortgage company that its being turned into a rental property so they can do the necessary paperwork to list it as an investment property.

I have decided to sell the condo and would like to reinvest the proceeds of the sale or pay off a loan (HELOC) that I recently took out to buy a new property.