Okay, so my fiancé and I own about 1.75 acres of land and we currently have a trailer on it and recently built a pool barn. The land and trailer are paid off and we are paying about 600$ a month on the pool barn. We’re stuck. We want to move out of the trailer (it’s only a 2 bedroom 1 bath) we have completely redone it but don’t know what is going to be the best option. We want to be landlords, (get a couple of property make extra income). We also eventually want to build a stick home built house on the property so that way we can use the equity or sell it as a whole to then buy multiple properties. My question is… we have been looking at homes.. we obviously want something a “little” more accommodating for us, but also don’t want to get stuck buying a property that isn’t an investment. The housing market is booming right now and we just aren’t sure what the smartest move is to make to make passive income. Do we stick it out and live here and build then rent the trailer out? Do we move into a home and rent the trailer and property out? Do we buy a duplex? We can rent the property we are living out of right now for probably around 1500. Gives us a big chunk of change extra every month. We are new to the game and any advice is appreciated.
[link] [comments]
source https://www.reddit.com/r/RealEstate/comments/wvpdlx/real_estate_investing/
Comments
Post a Comment