How to Buy a Home in Six or Seven Years

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You and your partner will be making $300,000 combined. It sounds as though you are decently on track for retirement. If you want to move back to your hometown in six or seven years, do you wait to buy something at that time when prices likely will be a lot higher? Or do you go ahead and buy something now and rent it out? A few things come to mind right away.

#455: Yvette recently retired with the goal of reaching a $10,000 monthly income from her real estate investments. Should she put her money toward debt payoff or portfolio expansion?

Carly wants to buy a second home and convert her current home to a rental. What are the pros and cons of tapping into existing equity versus saving cash for a down payment?

An anonymous caller plans to move back to her touristy hometown in six to seven years. Is it smart to buy something now and take advantage of a thriving Airbnb market?

I tackle these three questions in today’s episode.

Enjoy!

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