Buying investment property while renting...

Can you please give me some insight on this thought?

We rent right now, and will probably have to rent for the next few years...DH is in restaurants, so he gets moved around..the more flexible we are the quicker promotions come.

DH is ansty. We saved for a house for years, and he feels like he wants to be in "the game"

They are building a research park down here(NC). I told him I would consider buying there because it seems like a sound investment. We would have to rent it out...too far away from current location to commute.

thoughts? thanks!

Re: Buying investment property while renting...

Makes sense if you can cover your costs and if the housing market goes up more than the income you can receive from other investments...plus if you do want to buy soon, you won't have that immediately available cash that you have now..

Re: Buying investment property while renting...

Friends of my parents did that when they moved out of state to Arizona. They moved out there, bought a nice house and rented it out for a while until they figured out where they wanted to settle down...so in the mean time they invested their $. They live in Scottsdale.

Re: Buying investment property while renting...

thanks..the house is only 120000 so we would put down minimal plus be able to put down on our own house one day.

Re: Buying investment property while renting...

I think Real Estate is always a good investment, go for it!

Re: Buying investment property while renting...

Re: Buying investment property while renting...

As a fellow Charlottean , and a real estate investor, I say go for it! Chris and I are moving to Plaza Midwood in 10 days! We're renting out our Wellington house, bringing our grand total of investment properties to 4. Key is to find something that you can be cash flow neutral to positive on.

This way you guys have an investment, someone else is paying for it, and you aren't tied down to anyone place.

But thats my biased opinon.

Re: Buying investment property while renting...

We purchased rentals & flips in FL while renting in NY when we first got married. We eventually sold all of the properties and that allowed us to have money to buy & renovate our house we bought.

Re: Buying investment property while renting...

we are currently doing the samething right now but our house is in Hilton Head Island SC and we live on LI!! We rent the house out there for the past year and half and it is working out great!! We knew our money would go more for a house down there then up here and we will see what is going to happen in a year or so!!

Re: Buying investment property while renting...

Exciting!! I know it is a scary step...but real estate (especially NC real estate...) is a sound investment. We are also seriously considering buying an investment property - maybe a condo on the outskirts of Uptown where it is about to boom.