Everyone always says: Investing in real estate is the best way to grow wealth
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26 y/o married Officer in Air Force with 1st baby on the way. This is my first duty station, and have been here since 2020.
Thankfully, my wife and I have taken advantage of the two opportunities that have paid off financially.
We bought, DIY renovated and flipped our last two houses. Since house prices in our area began drawing back/plateauing we recently sold our house to maximize and have moved into a travel trailer at a friends land.
I’m very busy at work, and with moving every few years (and my distrust of renters to take decent care of a home), I’ve been wary on keeping/purchasing a house to rent out, but of course everyone always says investing in real estate is the best way to grow wealth.
Since my wife and I have a decent amount sitting in a savings account, I am looking for a fairly passive way to invest because clearly we are not gaining anything keeping it where it’s at.Krysten
Rentals are a hassle, especially if you’re not around to help take care of any issues that arise. Real estate is promising but requires a lot of capital and a lot of work at times as you probably know.
My husband and I build a fairly large passive style nest egg in a matter of 5 years using affiliate style marketing. A little work is required on the front end but it cashflows for us every month at this point.Andrea
I wouldn’t jump into rentals if you’re subject to transfers. I wouldn’t want to be an absentee landlord. Everyone touts rentals as the path to wealth. Trust me—plenty of people have achieved wealth and a comfortable nest egg without real estate and rentals. You do you. But if you are hesitant, there are other ways to reach your goals.Josh
Your family might be well served if you got over that fear. Just do excellent screening prior to having tenants and get a good lawyer approved lease.
Since you won’t be in the same place all the time you can even hire a property manager to handle all of the tenant work for you.Matt
I would talk to a tax accountant. You possibly want to buy another primary home so you don’t take such a tax hit on your profits from the sale of your house. Maybe buy in a lower cost state. Either way I am more worried about your tax liability and a good tax accountant will be able to advise you.Brenna
Not all renters are bad. Screening is a big part of it and having quality rentals that attract quality tenants. I live in a military area and almost all of my tenants are military, government workers, hospital workers or teachers. Buying and holding over the last ten years has made a significant difference in my net worth.