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Suggestions on my current plans...

Discussion in 'Progress/Execution Threads' started by Walley, Oct 7, 2007.

  1. Walley
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    Walley New Contributor Read Millionaire Fastlane

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    I currently live in an apartment paying $825 a month.

    Plan A: Downsize my apartment since my lease is ending in a month and move to a cheaper apartment approx. $700 a month. That releases an extra $125 for me a month. I'm planning on saving money for a year and by the end of next year I'll have around $10k to put down on something.

    Plan B: I can get a $0 down financing for a house through the VA loan. Thinking about living here for a year or two and then renting it out. In the mean time using the equity to put down on a rental property.

    Any suggestions to my two plans or anything else?
     
  2. Sid23
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    Sid23 Bronze Contributor

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    Those are not plans. Those are ideas.

    What is your overall goal? It's impossible for us to comment unless we know what your goal is...

    Flesh this out further and then you will see more responses. If you need to, refer to Russ's thread on how to set goals.
     
  3. Yankees338
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    Yankees338 Bronze Contributor

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    Most "plans" are more specific. If your goals are still very open, my suggestion would be to write out a few different, specific plans based on different routes you could choose. This way, you're prepared no matter what is thrown your way.

    Overall, I do like the ideas. They seem to make sense in helping you exit the Rat Race. Good luck. Keep us posted. Again, my suggestion would be to come out with something more specific like Sean said.
     
  4. Walley
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    Walley New Contributor Read Millionaire Fastlane

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    My goal is to make enough passive income to live off on. I'm leaning towards more of getting a home with some equity and I've been seeing some..then use some of that to get started on building up SF rentals.
     

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