Steve, the question should be more along the lines of whether you want to build a retirement fund vs try to bring in passive income now.

Option 2: Purchase additional properties and build portfolio I know that there are some tax implications to no having the mortgage payment to consider.

I mean once you talk to them, it's pretty easy to spot if they know what they are talking about.I've work on STRs before and to be honest, it is not the most fun aspect of accounting because the volume of allocating income from all sources (airbnb, vrbo, stripe, direct booking, and so on) to a bunch of random expenses (cleaning, supplies, repairs, advertising, commissions, and all typical real estate expenses).I had to strictly rely on the client's input on what the expenses belong to which property or even units, if the paperwork doesn't say. 

When purchasing a BRRRR property, it's super likely that at least some of the neighboring homes will be in less-than-ideal condition so you want to give it time for those models to go under some rehab hopefully and appreciate which will help your appraised value at the end of the seasoning period so you can maximize your cash-out.If you have any additional questions - feel free to reach out!

Here are some numbers I crunched and my reasoning behind them:3BR Condo in Windsor Hills ~$459K~$38K projected STR income.$365K mortgage at 7.5% - $2,550/MoHOA - $460/MoTaxes - $306/MoInsurance - $200/Mo?

Consider factors such as rental income potential, expenses, vacancy rates, and potential for appreciation.- Negotiate and Close: When you find a property that aligns with your investment goals, work with your agent to negotiate the best possible deal.By following these steps and staying proactive in yoursearch, you'll be well on your way to finding your first investment property inHuntsville, AL.

These are professionals with additional training and a stricter code of ethics.

Getting into real estate is tough as it is, and coming up with the down payment can be extremely difficult, especially if you don't have the income to support it.

Our goal in investing is long term benefits (we would like to plan for retirement and helping our kids get started as adults), also plan to gain passive income, maybe gain one property every other year or so. 

Hi everyone,I am new to the USA and looking to invest in property with a long term goal to eventually replace part of my W2 income and also pave the way for my children to get a easier start in life.At the moment I am renting with an intention to buy a single family home this year.In a addition I have other cash - not much - that is sitting in a interest bearing account growing very slowly.