[USER]

I am 26 and own a house that I bought in 2021 for $369k. I put 10% down and my monthly payment is right around $2k. I have a roommate who pays me $1100 a month and I Airbnb another room which makes me about $1600 a month. Where should I be putting my profit?

I pay about half of my mortgage from my paycheck so I pocket everything I make on Airbnb.

Any advise would be great. Thanks!

[Lisa]

I’d buy a second property and rent it out. If you don’t have a deposit then try getting an equity loan to use as the deposit for the rest of the loan.

But do some research, don’t just go pick anything 🤷‍♀️ good luck! Sounds like you’re doing great so far.

[Dexter]

Dirt bike.

[Julie]

keep paying it off!! Then when that one is zero get another

[Chris]

Great house hacking! Invest that dough.

[Cliff]

You can put 6k of that per year into an IRA and write off on your taxes.

You could also use that income (with documentation) to buy another income producing property.

Give these a glance: Does anyone have an Airbnb as their side hustle? Or even main income source?

[Josh]

Buy another primary residence that is also house hackable. Rent out or airbnb the room you live in now. You could just do this every 13 months until you are fire.

This is easier now when your young and don’t have others to support.

[Michelle]

Save then when you have enough for the next house down payment.

[Dora]

You’re living for free and profiting, congratulations.

[Tom]

Max out all retirement savings… 401K, Roth IRA. Also, HSA if eligible. Just buy index funds and hold.

[Kelly]

When I was in the early days of my mortgage I used to get a kick out of paying with the amortization schedule. I’d actually mark it every month to show where I was. It’s pretty easy to knock 6 months off with every payment in the beginning and it feels amazing.

I would personally do something like that until they bulk of my payment is going towards principal.

The leftover cash I’d dump into tbills if I wanted to save for another piece of real estate or a vanguard growth fund if I wanted a long term investment. I *like* retirement accounts but you have to think about WHEN you’ll “retire” and I’m betting it’ll be way before 65.

Do you really want your money tied up that long? Just something to think about.

You’re doing amazing!

Additionally, consider: 33, 130k income, 0 debt, best investment options?

[Roe]

I’m just here to say that you are awesome!

If you’re able to, put the money in a high interest bearing savings account for now and then get enough together to pick up another property that you can either Airbnb, house hack, or even just own as a long term rental. Kudos!

[Maggie]

Many options here. You can really do a couple of things, doesn’t need to be one investment. If your interest rate on mortgage is not bad then don’t pay it off yet.

Buy more real estate and rent it out, preferably in a busy tourist area; put your money in bonds, gold, maybe cryptocurrency.

[Author]

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