Hello everybody, I just wanted to get some opinions if I am able to afford this house and if I am doing okay financially
For some context, I am 19 years old and I make $237k a year in big tech. I have a house in a HCOL area with a 30 year mortgage at 2% interest rate with $100k left to pay off, $800k in equity.
I have $350k liquid, $700k in retirement, $300k in stocks.
I also own 3 cars, a boat, a motorcycle, and an RV.
I’ve been thinking about buying another house in a LCOL area and renting it out for like $3k a month. The house is $300k, 3 bed / 2 bath and I want to pay cash for it. I also want to buy another car for $50k, you that’s fine? Can I afford this?
Things are getting expensive from what I’ve heard and just want to make sure I’m making a smart move.