Can we afford an investment property on a $200k income with a $600k mortgage?

C

CeilingAlants

New Member
Hi all,

My household income is about $200k per year. I work in the public sector. My spouse works in healthcare. We are 38 and 39. We owe $600k on our mortgage and are on track. We are looking for an opportunity to purchase an investment property, but it feels too much for us now. Please share your advice or stories.

Thanks
 
I don't know. We paid off our home first. I was 39, my wife was 37. Then we saved for four years and bought our first investment property. After another four years, we bought our second and third at the same time. Our goal is to never use our home as equity. Yes, this slows down the process. To me, it's invaluable to know my family has a home, unencumbered, if something happens to me.
 
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