I’m a 25 F and just reached a net worth of $165k. I want to continue making smart financial decisions and I’m thinking of purchasing a house, flipping it and renting it out or reselling. My dad will be helping me flip it. I got a great interest rate and found a house I like. Would love to get some feedback and insight...what would you do in my shoes? Should I buy property?

likesmart
Posting as :
works at
You are currently posting as works at

I personally would not, certainly not right now. Many states have moratoriums on evictions at the moment. You can’t oust your tenant for non payment but, guess what, you’re still on the hook for your mortgage. I would put that money into the market. You’re only 25 and I assume thinking long term, so index funds. Dump it in there and let it passively make you money with no effort over dealing with the headache of being a landlord, IMO.

like

This path isn’t for me, but it depends on timeline. Can you get a greater return from flipping including sell costs than you would in the market? If yes, great. If no, no. Also...does this action screw up any tax advantage you’d otherwise get for a first home purchase? What is your time worth?

Yes flip and rent. Don’t sell. Bought 2 rental properties and it has worked fine. Buying the 3rd now.

Property has a lot of hustling you need to do but it works. I hear good things from some people I know who went all in on it. You can make good money doing almost anything, just need to focus your energy to learn it and get traction. I never got into it, prefer trading.

Yes. Real estate has better returns than stocks

This would be a great learning opportunity while you’re young. I would do it for the learning opportunity alone if real estate is something you plan to do long term.

What did you decide to do?

I purchased a home! Closing in 50 days and very excited for the project ahead.

like

Related Posts

How to claim an internet broadband bill in Mindtree?

What is flexible compensation in credit Suisse?what salary components will come under this?will get full flexible compensation or any deductions in it.

like

What do the exit ops for ops consultants look like?

I am hoping to get into Corp strat

Is this a terrible time to be searching for a new job? I've been applying since Thanksgiving and haven't had a single interview. Wondering if it's just the wrong time of year to make a move.

like

Pets! Time for an updated pet post! Show me your good boyz, fluffy gals and exotic pets!

I'll start: Gidget the labradoodle.

Post Photo
likeuplifting

How do you build a marketing resume without any professional experience in the industry?

like

I’m scared to put my all in things because I lose track of time when im stuck in work due to my hyperfocus

like

Any good tailors in the midtown or downtown area in NYC?

Any advice for someone who’s looking to make the switch from agency to inhouse? I’m an SAE with almost 5 years experience in agency life. Looking to make the switch. Not sure where to start. Any advice is welcomed.

like

About to join Cisco in some time, can someone please share which laptop & what goodies will they provide? Also, do I have to go to office to collect the same as I am in same location.

likehelpful

Can anyone pls help me connect with some wells Fargo HR.. I am looking some opportunities in their portal for hyd location, even though the skillset/JD completely matches, they do not contact.

One of my fathers disciplines his son when he cries because he says that boys don't cry. What should I do?

like

Salaam, considering accepting an offer at EY, would be great to connect with sisters and find out what the Islamic vibe is like there. Team will be based in CW.

like

There is a recall on Similac formulas. Please check online for your lot number and details.

likehelpful

During non-busy season when you're required to work 8 hours at work, if you work 9 hours but 1 hour was just random inefficient/gt&e charging etc, do you charge 8 hours to client or 8 + 1 hr admin?

like

How is Airbus India company? specifically for the Mechanical/ Aerospace profiles (Design/ Stress)? How are the yearly hikes at Airbus?

like

Which job would pay more in the future? Business Intelligence or Proposal Writing? I am a government contractor so you know what sector in.

like

Can someone refer me, I'm a project lead with 9 years of experience, looking for a lead role.

Skills : Splunk, basic of tailwind css, html...

Notice period 3 months

like

Additional Posts in Personal Investment Chatter

New to investing. Looking for any/ all tips... book recommendations, YouTube videos on how to get started

like

Is it wise to hold 80-90% of your money in index funds?

like

What are you doing with the money you are saving right now?

like

Is watch a good investment vehicle in terms of resale value?

like

Is it a good time to buy first home condo for 300k chicago downtown now? 45k in HYSA, 31 single. Rest of my money went into gifting home for parents and edu loan.renting for 1700 per month

likehelpful

When you do a back door roth - do you close the traditional ira or leave it open? My first time doing it and fidelity is asking which I prefer.

like

Are there any circumstances in which the giftee would pay to gift tax? I thought no, but I am now hearing there are situations where that would be the case. Can anyone with experience clarify?

like

Just opened up a Roth IRA with Schwab. what’s are good stocks/mutual funds that i should buy for the Roth IRA account?

like

Is anyone familiar with filial responsibility laws? I have major doubts that my in-laws have enough saved for retirement / it seems they are planning to rely on SS despite currently living a pretty lavish lifestyle (brand new house, luxury cars, routine spa appointments, expensive dinners, etc.). I’ve heard of cases in PA (luckily we don’t live there), but what about other states? Also, I’m assuming if things go south at the end they can rely on Medicaid for long term care?

like

Start tomorrow but I don’t get a match for 401k until 2nd year. Living at home and wanted to pay off my loans. Is it ok if I just do loans, max out IRA, and have an emergency savings? Projected CONTD

Where do you go for stock market news?

like

Best investment book recommendations?

like

Am I too late to buy a house now? Sitting on 300k of cash equivalents and want to use that as a down payment. Is there even a tiny hope for market correction in near term ?

like

What are some ways you guys earn passive income (other than stock market) ?!

like

If I’m above the Roth income limit, can I do back door Roth for my Roth IRA and mega back door Roth for my Roth 401k? And does back door Roth count against contribution limit for mega back door?

like

Should be close to breakeven after todays market gains (Invested around 60k during early days of market decline). How many of you are thinking about pulling money out today?

like

Has anyone maxed out their Roth for the following year yet? Thinking of taking it out of my account for the following year and capitalize on the gains

like

VTI, VOO, or VTSAX - which do you all prefer and why?

like

I am looking for reliable property managers that help with buying and renting investment properties in the following cities. If you have had a good experience with any, please share.

Boise, Idaho
Atlanta, Georgia
Dallas, Texas
Orlando, Florida

like

What blogs/books/resources should I seek out if I want to make the transition from passive trading (index funds/buy and hold blue chips) to more active trading (options, speculation, spending a few hours a week researching, etc)? I’m looking to turn my investing into more of a side hustle

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal