Would you personally buy an investment property before your primary residence?

2016-09-19T23:56:10-04:00

I'm saving up for a down payment and other expenses for my first property... If money was not a huge issue, would you personally buy an investment property before you bought you primary residence?

I'm content where I'm at now and I have a chunk of cash that I throw into my brokerage that I can put towards a mortgage on an investment property

Response by SPC(P) Private RallyPoint Member made Sep 19 at 2016 11:56 PM

2016-09-19T23:56:52-04:00

This property is near CWU in Ellensburg, WA and can be filled 365 a year if priced right and the market is pretty cheap right now

Response by MSG Mitch Dowler made Sep 20 at 2016 12:01 AM

2016-09-20T00:01:12-04:00

It depends....
If you are still on active duty and assigned to an are where real estate prices are high it often makes more sense to rent and control the property for less money that a mortgage.
In other locations you can pay the mortgage, taxes and insurance for about half what it costs to rent that same house.
Now those less expensive areas such as Memphis, Indianapolis, St. Louis, Dallas and many others are where I invest. As the Real Estate Guys say, Live where you want to live and invest where the numbers make sense.

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Response by Sgt Private RallyPoint Member made Sep 20 at 2016 12:05 AM

2016-09-20T00:05:54-04:00

SPC(P) Private RallyPoint Member My preference would be to save your money for your primary residence. Do you have an emergency fund established and are you maxing out your retirement plan(s)?

Response by LTC John Shaw made Sep 20 at 2016 12:09 AM

2016-09-20T00:09:56-04:00

No, I will always buy my primary residence before any investment property. Any investment, including real estate, is at risk money. Your home should not be put at risk, especially if you have a family. Families, people, couples, children need stability to thrive, owning the primary residence is part of the stability many people need to feel safe.

Response by CPT Jack Durish made Sep 20 at 2016 11:39 AM

2016-09-20T11:39:58-04:00

There is no better investment than property. All wealth rises from real estate. Today, I live in an apartment. With age, caring for and maintaining a home is too much of a chore. However, the rental property is like a press reliably printing money to provide an income for our old age. Better than any investment in stocks and bonds or savings. And, remember, you can have it both ways. Invest in a duplex or triplex, and live in one unit while renting the others. As the mortgage is paid off and equity grows, you can easily afford a home of your own while keeping the investment property as your own printing press.

Response by MSG Private RallyPoint Member made Sep 21 at 2016 3:23 AM

2016-09-21T03:23:20-04:00

Depends on your situation and goals.

Response by Cpl Justin Goolsby made Sep 22 at 2016 10:21 AM

2016-09-22T10:21:12-04:00

I'm honestly not sure what an investment property is, but I'm assuming it's something you plan on making money off of whether it's a business property or a rental property. If the investment is solid, then why not jump on board. If you don't plan on settling down right away, than a primary residence isn't really necessary.