Hi everyone,
My wife and I are looking to purchase our second home. We moved back to OH to be closer to family. We have a 2 yr old and are expecting another in 6 weeks. We made great money off the self of our home back in AZ
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My question is, what would you guys do with the money. Place it all into the new home, or invest some of it ?
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We have no debt, both cars paid for. 225k in retirement (we’re both 30) and roughly 160k cash for home / investments. We make a combined 110-115k a year.
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We’re looking into buying home for 250k ish and then turning it into a rental after 3-4 years or buy a home in a great school district and live there for a while but spend around 350k.
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Thanks in advance !
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Also, if anyone has any great resources for purchasing homes for future rental investing etc that would be great !
I’d put at least 20% down. Personally probably more because I like the peace of mind of a smaller mortgage payment and no debt sooner rather than later. (Think about having NO mortgage and investing that amount every month!)
That said, it’s not crazy to put down a smaller amount and invest the rest. That’s the more aggressive move, but can be more risky if you lose a job or something.
This post breaks down the general question you’re asking too!