Which type of property should we invest in first?
My spouse and I have saved up enough to purchase a property... either a primary residence, investment property for long term rental, or a property for vacation rental. Which one would you recommend? What are the pros and cons? What have your own experiences been like? I’m personally leaning on vacation rental property but wanted to speak with others who have had experience. I don’t know anyone in my network so I’m reaching out here to see if anyone would be willing to share their experiences and advice.
Primary residence has the huge advantage that you don’t have to deal with tenants.
I just purchased a primary with intent to rent down the line when I change job or move back home. Dont deal with rental if you dont have to.
None. Buy VTSAX and make money without hassle. Only buy property with the passive income from your investments.
Buy a house and rent like a floor out.
Duplex
Duplex that you can rent the other half for above the mortgage. The best investment you can make.
Get a primary residence that is well within your price range, later you can use it as a rental.