Edward

Hi. Thank you so much for taking the call.

Yeah. So, um, I'm looking to, I have an opportunity to invest in a house, um, in a small, uh, city in Western Pennsylvania. Um, it's, it's a rental and, um, I've never bought, um, just to give you a little background, if you don't mind about, you know, my finances, I'm 29. Um, I'm single. Um, my retirement has about 85,000 in it. Um, I have about 85,000 in cash.

Uh, brokerage account in stocks and stuff like that is about 40. Um, I pull in about 4,400 for my day job, uh, a month.

And then, um, and then I have a property of, uh, my own, uh, rental property, um, that I own. Um, and I do have a mortgage on that.

The mortgage? Uh, it's about 83,000. Okay. Um, it's valued around like 175, 200. Okay. Um,

I think you guys are, what's that?

Yeah, so I actually, I had another apartment and I was fixing it up and then I actually sold it. I was going to rent it out. So I moved back home to my parents. Okay.

Yeah, I sold it. Okay.

Yeah, that's like, I'm just holding that in cash right now in my brokerage.

Yeah.

Yeah. I have a third opportunity that a friend gave me, um, Also, I think if you guys don't, I think you'll laugh at this. My rental property actually burned down. Oh, no.

Yeah, no, rental properties are not passive income. I've learned that the hard way. Yeah. Got you.

It's being rebuilt, but it's all good. So tell us. Yeah, it's being rebuilt. So it's fine. But anyway, so I have an opportunity to buy a small house for $44,000 cash. Wow. It has a tenant in there. They pay about $675 a month. The taxes and the insurance, I was told, are about $150 a month.

It's being rebuilt. Okay. It's a townhouse. Okay. And I'm the president of the HOA board. Okay. I'm closely aligned with, you know, the construction process and everything like that.

Yeah. I'm going to, I'll be moving in with my girlfriend this summer and we're probably going to rent.

So,

Other than the mortgage. Yeah, no consumer debt.

Yeah, that's the one that burned down. Yeah.

Oh, it's far. It's on the western border.

Yeah, it's not worth it.

convince her.

And, you know, just to end off, I totally agree, honestly. That's the wise decision. But, you know, if I was like a seasoned investor, Let's say I was like 20 years older and I had a large portfolio. Even then, would you think that investing in out-of-state properties is a bad move?

Yeah, you know, I was going to put a loan, a mortgage in, I'm sorry, an application in to buy a house near me. It was severely damaged and everyone is I got outbid by a bunch of cash offers and went over asking. Like I can't even compete in this market. Yeah. Yeah.