Saving for the Second Home

by Frugal Finder

Guest written by our friend Gladys Fuentes

We are on a crazy savings streak right now. We want to buy our second home soon and rent this place out to make some money on the side so we’re cutting expenses everywhere we can. I love being a homeowner and I guess I can’t wait to be a landlord, too! It’s so nice to own a home and feel like we have enough left over to buy a second house – that makes me feel like my husband and I have done a great job managing our money. I really wish we’d done it sooner but neither of us are yet 30 years old so I guess we’re doing okay. Anyway, I thought about it long and hard and I think we’ll probably try and flip after we move into the next place. That will mean we’ll have to save up enough to buy a THIRD house so what I’ll do is get online and look at those Money Saving Tips my mom sent me and talk to the bank about what kinds of loans are right for us. I have always known I wanted to go into real estate and my husband was 100% on board when I told him the plan. He loved the thought of me staying home with the kids and managing our properties while he worked and it really just fits our lifestyle well. I’ve actually got my real estate license so I can manage properties for our friends, too, and make a little extra cash so I think I’m going to do that on the side. I love being a stay at home mom, if you can call it that, but I also love being a real estate mogul! I think since our money is so diversified it really reduces our risk. I don’t want to have everything we own tied up in one house or one stock portfolio so this is just a perfect solution.

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