Need advice on rentals and investing in stocks
Need advice on where to go from here
Hello everyone, im a 20 year old guy, and ive got some questions about rentas.
My current financial status
I pay no rent and live with mom and dad
-Current income ~ 120k before tax including rental income
-35k in my roth ira, invented in SWTSX
-12k in standard savings, a lot went into down payment😢
-A 415k home, i only owe 180k on mortgage, the rest i got as a loan from family, and ill owe no interest. Monthly payments to bank are 1500, and i am currently renting this house out for 2200. I put 230k as the down payment, 60k coming out of my own pocket.
So my question is this, my dad will swap one of his current rentals that ive wanted for a long time with my house as soon as I get married, and he'll take on all my debt, and my debt will be erased and ill have a 450k home. I want to know if I should continue pursuing rental homes as an investment strategy, or to just invest straight into a fund like the sp500.