[USER]

I have the chance to buy a new construction home and an investment property.

This will wipe out my funds but I will have my primary home and investment property. What are your thoughts???

Edit update: The primary I’m looking to buy is around 250-260k about 30 minutes from a large city.

The investment property is around 200-220k.

It will require a little work but would cash flow around 750-1000k monthly with the potential to add more properties on the land.

It’s about 2 acres. It has a 3br 2 bathroom and a 1 bedroom 1 bathroom on the property currently.

The 3 br could rent for about $1500 and the 1 bedroom around $800.

[Maggie]

all it takes is one issue to put you in debt. can you pay for everything with no renters? are you sure it will cash flow?

[Molly]

Location? Prospective job growth in the area? Is there a local shortage of housing so prices are increasing?

Way to many unknowns to really answer appropriately… Seller could be dumping it because the long term economy in the area favors it …

[Matt]

Can you rent it out for what your payment will be or close? If so go for it.

No risk no reward.

You can always refinance it to lower your payment when interest rates go down.

[Joe]

Well if you are in Peru or Afghanistan, the property market is different there.

[Josh]

Absolutely DO NOT buy a home right now.
The collapse has started in Florida and Texas.

Other hot markets will turn soon as well (phx/vegas).

[Author]

Posts