Here's a more specific question for you guys with some life experience. I'm in my 30's with a wife and 1 kid. I've paid off most debt besides the mortgage on our house and one rental house. We have a pretty good savings, 401k's, a stash of solid assets etc.
I have the chance to buy another house at a very good price just down the street from us. Is it a good idea to take on rental homes? We have one and it cash flows $300/ month and hasn't been too bad to manage. I'd have to put about $30k down on this new one but it would cash flow $350 not counting the down. That $30K is only getting us .8% in savings right now.
I'm still worried that harder times are coming and I feel like just hunkering down but I wouldn't mind having a few paid off rentals when I retire. Prices and rates are good right now. Do I pull the trigger on another house?
Bb
