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- Feb 7, 2013
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Rental properties can be very successful or a nightmare. They require a certain type person. Been there done that.I didn't think of this exact scenario. So buy a house to live in. After 3-5yrs you can sell and not pay capital gains tax. $250k if you're single or $500k if your married. No better investment than having a roof over your head
I'd buy land. Had I bought 10 years ago where I am now I could have quadrupled my money. I've said similar about too many places I've lived....
Bought a small place in N. Georgia. Had a cabin. Hunted there and just "got away". When we left Georgia sold it and doubled my money. Granted, it was close to 15 years however the value I got out of it and the piece of mind knowing there was virtually zero risk made that return significantly more. Did well financially on a couple rental properties but not doing that again.
There are limitless options depending on your preferences. Buy dirt.
As others have said pay off debt first, but ONLY if you are disciplined enough to not run it up again.

