Hi Everybody,
I haven't been on here in a while and my situation has continued to progress nicely. I am just trying to figure out my next step in life without making too many mistakes. Here is roughly where I am at-
-21 years old
-should make roughly 100-120k this year
-roughly $130,000 in liquid cash
-dont own a home or pay rent right now
-self employed for the last 3 years (real estate agent)
-have a small truck loan (under 10k) at under 4% interest
-no huge bills or payments (cell phone, insurance, entertainment,etc.)
-no college debt
So here are my questions-
-do you recommend that a buy a home cash as a primary residence and continue to save up cash?
-should I buy 2 rental properties cash and take out a mortgage to buy a primary residence?
-should I take out a mortgage on a primary residence and just invest my money elsewhere?
I just need to do something productive with the cash that I have saved so it is not just sitting in a savings account making me virtually nothing. Any insight, ideas or suggestions would be awesome!
I haven't been on here in a while and my situation has continued to progress nicely. I am just trying to figure out my next step in life without making too many mistakes. Here is roughly where I am at-
-21 years old
-should make roughly 100-120k this year
-roughly $130,000 in liquid cash
-dont own a home or pay rent right now
-self employed for the last 3 years (real estate agent)
-have a small truck loan (under 10k) at under 4% interest
-no huge bills or payments (cell phone, insurance, entertainment,etc.)
-no college debt
So here are my questions-
-do you recommend that a buy a home cash as a primary residence and continue to save up cash?
-should I buy 2 rental properties cash and take out a mortgage to buy a primary residence?
-should I take out a mortgage on a primary residence and just invest my money elsewhere?
I just need to do something productive with the cash that I have saved so it is not just sitting in a savings account making me virtually nothing. Any insight, ideas or suggestions would be awesome!