On a previous thread I explained my current situation; In case you do not want to go back and check it out, I currently have two rental properties and my house.
I've been thinking about renting out my house and buying another property for me to live. Until a few days ago, I was looking for a SFR (ranch with basement) in my city, now I'm actually considering a Downtown condo.
These are the numbers from the previous thread:
Job Income.......: ~$140 K
Rental 1...........: ~$ 85 K - owe $59K
Rent.................: ~$800
Expenses.........: ~$500
Rental 2...........: ~$190 K - owe $145K
Rent.................: ~$1400
Expenses.........: ~$1000
Home...............: ~180 K - owe $105K (been paying it down, now owe 97K)
401(k)..............: ~$65k - on autopilot
Cash................: ~$60k - depreciating on a couple of savings accounts.
VTSAX..............: ~10K - bought it in November
The condos I've been looking at are ~$330K, adding taxes & insurance, the monthly payment goes up to about $1,800; my reasoning is that whenever I get tired of my current job (100% travel), I would want to be close to where most jobs are, plus I love downtown Denver, the drawback (other than the cost) would be being an hour away from my investment properties.
The other option is buying another house for ~$200K in Northern Colorado, or completely forget about buying more properties and invest on something else.
What do you think?
Edited to answer Another Reader's question on the other thread (missed it for some reason):
As of now, I'm not even dating anyone (I know that can change anytime), but for now, wife / kids are at least a couple of years away.