Today’s A to Z post on the theme of “my 20-something goals” is about Investment Property.
I achieved my life-long goal of buying a house in January. I’m currently renting out a bedroom to a roommate, which helps cut down my monthly mortgage payment.
HOWEVER: now that I’ve got one house, I don’t want to stop. My next goal is to buy an additional property every five years. (If I’m being honest, I’d prefer to do it every 3 years.) Eventually (but hopefully sooner than later), I’d like to be able to live off of the income from my various properties.
I live in Charlottesville, which is known for extremely high real estate costs. I find this to be supremely frustrating, but it’s a challenge that I think I can overcome. I’ve learned that there are deals to be found, if you’re willing to be patient (which I did when buying my current house — I checked the MLS every day for close to two years!).
Being a landlord fits nicely with my life-long love of houses and my desire to live freely outside of the 9-to-5 office setting. Now all I’ve got to do is make it happen…