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I’m lost! It’s my first time
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First time investor

First time investor I’m 21 and make roughly 4200 monthly.

So tldr - basically I was in the process of purchasing my recently passed away grandmothers home. She had a reverse mortgage and I was planning to buy the house and use it as a rental ( couldn’t bear to live there given the circumstances)

I tried to buy it once and it slipped. The opportunity is given now but the house will need some fixing up. But I’m just so torn on should I purchase and hope to get it fixed up to start a passiveish income( I know I will have to help manage property etc) or continue to stack and save while I work for a bit more time.

House roughly - 68k list price - on auction atm 1025 sqft 3 bedroom 1 bath in a small/mid size town

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Posted
9 months ago