New House
It has been over one year since we last purchase a multi-family home. The purchase allowed us to cash flow pretty well and save enough for a single family home. The new house purchase process can be a little stressful.
From shopping for a mortgage and getting paperwork together looking for a potential new home. We have actively looking for over four months now. We kept our eye open on potential houses on the market to try to figure out what we actually were looking for.
About two weeks ago we finally made an offer in a house. Which is about 10 minutes away from our rental property. This should allowed for plenty of time to self managed it while we continue to build free cash flow. Investing in real estate is all about cash flow. Not equity or any other metrics. Cash flow allows one to use the free cash flow to invest in other potential investment albeit real estate or stock market. Which I will be investing in dividend paying stocks to continue to build passive income to support my FIRE (financial Independence/Retire Early). I believe that should be why one invest with a view of long term.
last week our offer was accepted. Finally Yesterday we did the home inspection. You should definitely do a home inspection even if it is a brand new house. This house is only six years old, which really helps. Now the lengthy process of applying for a mortgage and getting the loan approved and finally closing is on the horizon.
We hope we can close soon, as this will add more free cash flow from the rental property to help us reach our goal sooner.
What do you think of buying real estate? Thanks for visiting
Cheers
Dividend Pursuit
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