Should I buy a home?
When I start FT, I’m thinking on financing a home and plan on paying it off within 5 years.
I want to be a homeowner to start building my real estate empire, and am looking at low-mid priced homes in Florida, Tennessee, SC, basically places with a LCOL.
My budget would be ~300k for a small duplex or triplex that I can rent out rooms individually and/or list on Airbnb.
I expect to have 60k cash every year to allocate towards the property.
60k * 5 = 300k I would be able to pay it off very quickly.
Is this something you would advise me to do? Also, anyone have any insights, tips, recommendations on home ownership and leasing out rentals ?
Any and all dialogue and criticism is encouraged and appreciated.
Why pay it off so quickly? You could pay the mortgage back with the rental income you get.
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