Which should you do first: buy your first home or invest in property?

I wouldn’t change anything about our story, but I do wish I had known more about the business before we got started. If you are considering buying rental property, I hope you can learn from my mistakes instead of learning things the hard way. My best advice is this: Screen your tenants carefully and keep an eye on your property at all times.

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Additionally, you will be able to use this first property as a launch pad for your future investments. This property will build your confidence as an investor and open doors that you didn’t even know existed. You will become an "investor" rather than just a dreamer. Perhaps you can even use this first property (because it’s your primary residence) to do a cash-out refinance and pull out money to buy other properties. The possibilities are endless.

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Buyers are also eligible for extremely low interest rates that make buying a home an especially attractive option for young buyers eager to plan their financial future. All it takes is a little financial know how to set yourself up with an investment property. Here’s a few reasons why you should consider making your first home an investment.

Consider a live-in property. If you’re buying a home for yourself, buying one with up to three additional units can be a good way to get started with investing. "We see a lot of younger people going this route," Rodriguez says. "I think it’s a good way for a first-time homeowner to begin homeownership."

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He and his wife lost $50,000 on their first home in Dayton, Ohio, Now, Guina cautions against buying a home just to make money.. your income on the property will be to determine if it is a good investment, Digonzini said.

The debt allows you to buy an asset that creates income (rent), gives you tax deductions and increases in value more than its costs. Your owner occupier home is bad debt. It creates no income, you get no tax deductions and unless you are living in a property hot spot, your capital growth could be next to nothing.

Do you pour your money into a home, and spend decades paying it off? Or do you delay gratification, buy investments and let them pay for your dream home? Interested in property investing? Visit.