Would you buy a rental property before you owned a primary residence? I have some money on the sidelines and currently renting a place for myself to live in, but have been debating the pros/cons of buying a residence vs. starting a rental income stream. Thoughts?

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Why not both? Buy a multi-family home.

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This is what I did.

I mean it’s a math formula. Look at what you can make from a rental while Forking our rent versus spending on a personal home.

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How do you pick rentals? I'm in HCOL so can't buy locally

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Look into house hacking - e.g. buy duplex and rent other unit to (mostly) cover your own "rent."

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I have 4 rental properties, and still rent. Don’t plan to buy a primary residence until I have 10 plus rental properties.

Oh got it. I was thinking sfr. Multifamily 🤢

100%. I'm gonna do this soon, I think

Depends where you are in life. Rental first may set you up long term better, but will push the primary residence off since you won’t be able to recover the spent money quickly. If you have spouse and kids and struggling in your apt, then primary may be better. If you chillin and don’t mind renting longer, then maybe rental property first

Primary residence can be a great RoI compared to renting.
Mortgage pay down essentially is money in your pocket, appreciation and no capital gains tax...
Transaction fees are high so choose a home you will live in at least 3 years, or even better buy it with the great mortgage rate and move after a year to rent it out...

This is what I am planning to do right now

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