Submitted by fduerr t3_11doh7k in personalfinance
Gwsb1 t1_ja9y97e wrote
When you say "real estate" do you mean to live in or invest in?
If to live in that is tough in high COL areas. To invest in that can be easier because it doesn't have to be where you are.
Example: go in with your friends on a vacation condo to rent and visit. Hire a local RE company to rent and manage it.
fduerr OP t1_jaa2ek8 wrote
I was thinking to live in, but I guess I could invest in a vacation condo. Mostly where I want to vacation is international or also in high COL areas.
Gwsb1 t1_jaa96ws wrote
😆 I feel your pain . I also have a champagne taste and a beer budget. And of course you don't have to live where your real estate is. But a duplex and hire someone to rent and take care of it. Doesn't have to be vacation property.
And another option is go in with your friends on a place to live. That one gets tricky of course.
And as one person said , just keep doing what you are doing , but at a higher level. Keep saving investing in stocks. Compounding is very powerful.
fduerr OP t1_jaae1ov wrote
thank you so much!!
AdditionalAttorney t1_jaagfko wrote
Make sure you REALLY understand the numbers if you’re going to go the real estate route.
And make sure you have a very detailed agreement and a stomach to enforce it if it’s something you’re going to do w friends
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