JerseyGirl37
Confused about dryer sheets
Hi all:
I am 37, my DH 40 and we have 2 young kids. We currently have about $600K in retirement savings and $150K in other stocks. We have a mortgage balance of $250K on our home, which I hope to pay off before I am 40.
We also have $150K in cash earning a whopping 1% interest rate. Our plan was to invest $100K of that in the market but, given the housing market and the low interest rates, we are thinking of purchasing a multi family home as an investment property. My husband thinks he will be kicking himself years down the road if we don't take advantage of today's rates. We live in Essex County, NJ (about 15 miles west of NYC) and are considering Montclair or the Caldwells and other surrounding areas.
Any thoughts on this as an investment strategy or tips from people who are landlords? We are at the very preliminary stage so I am just trying to gather a lot of infrmation before taking this plunge....
Thanks!
I am 37, my DH 40 and we have 2 young kids. We currently have about $600K in retirement savings and $150K in other stocks. We have a mortgage balance of $250K on our home, which I hope to pay off before I am 40.
We also have $150K in cash earning a whopping 1% interest rate. Our plan was to invest $100K of that in the market but, given the housing market and the low interest rates, we are thinking of purchasing a multi family home as an investment property. My husband thinks he will be kicking himself years down the road if we don't take advantage of today's rates. We live in Essex County, NJ (about 15 miles west of NYC) and are considering Montclair or the Caldwells and other surrounding areas.
Any thoughts on this as an investment strategy or tips from people who are landlords? We are at the very preliminary stage so I am just trying to gather a lot of infrmation before taking this plunge....
Thanks!