Did you ever give any thought to the steps necessary to successfully buy a new home and rent the other? Probably not. However this is a great way to get started in real estate.
It's pretty common that when we buy our first home, we don't have a lot of cash to put down. When we sell that property a few years later we might not have a lot of equity in the property. It might make more sense to sock away cash for the down payment on your new home and keep the other property as a rental. Read the rest of this entry →