Welcome back to Finance Friday. It's another special edition of Money Girl where I answer your burning money questions.

Today's question comes from Mary, who says, I'm 29 years old and rent in Austin, Texas, because I can't afford to buy a home here. I have a good job

where I contribute to a 401k. I have approximately $50,000 in emergency savings, and I'm happy to

say that I have no debt. What do you think about me buying a rental property in an affordable suburb and leasing it on a short or long-term basis?

I appreciate any advice you can give me about becoming an investor before becoming a homeowner.

Thank you, Mary. I really appreciate your question, and I know many listeners are also struggling to

become homeowners as prices and mortgage rates have risen. And it's also become a little trendy

to be an investor before becoming a first-time homeowner, especially in larger cities. So this

podcast will discuss whether it's a good idea to become a landlord

before becoming a homeowner. We're going to review the main pros and cons of buying an

investment property before your first home. So stay with me. I appreciate you being here on

episode 941 of Money Girl. I'm your host, Laura Adams. I'm an award-winning author,

a spokesperson, money speaker, and founder of The Money Stack. That's my substack newsletter.

You can learn more, ask your questions, and sign up for the Money Stack at laura d.adams.com.

Also, reach out if your organization could benefit from having a

remote or an in-person speaker, take your financial education and motivation to the next level.

All right, let's talk about investment properties. You know, depending on a property's price,

its location, and amenities, there are different ways

you might use it as an investment. For instance, if it's in a location you'd like to visit

regularly, it could be your vacation home for part of the year and then you could rent it out

the remaining portion of the year. Or you could buy a home,

condo, town home, and list it for short-term rentals, like Mary mentioned, maybe on Airbnb or VRBO,

...