My current net worth is around $224k. My goal is to put down no more than $100k on a duplex and invest the rest in the market within the next 18 months.
I'm 33, I will live in one unit & rent the other. I will hold this property as a primary residence well into retirement with no desires to purchase any other real estate in my lifetime.
I have to live somewhere and pay bills somewhere. I pay $1,300 to $1,400 in rent and feel my hard earned cash is getting flushed down the drain with no equity, appreciation, or cashflow. I have no concerns of being a landlord for just 1 unit.
In todays market, I can afford a duplex for $276k in Milwaukee, WI in the Bayview area which is a prime location and neighborhood.
I'm seeking opinions and advice, Is it a bad idea to put down $100k on a rental property currently with a net worth of $224k?
Im currently all cash in the Vanguard Federal Money Market Fund.
I'm 33, I will live in one unit & rent the other. I will hold this property as a primary residence well into retirement with no desires to purchase any other real estate in my lifetime.
I have to live somewhere and pay bills somewhere. I pay $1,300 to $1,400 in rent and feel my hard earned cash is getting flushed down the drain with no equity, appreciation, or cashflow. I have no concerns of being a landlord for just 1 unit.
In todays market, I can afford a duplex for $276k in Milwaukee, WI in the Bayview area which is a prime location and neighborhood.
I'm seeking opinions and advice, Is it a bad idea to put down $100k on a rental property currently with a net worth of $224k?
Im currently all cash in the Vanguard Federal Money Market Fund.
Statistics: Posted by playboy_number9 — Tue Jun 25, 2024 7:37 am — Replies 0 — Views 51