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Updated over 16 years ago on . Most recent reply

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3
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Matt Hunt
  • MN
0
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3
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poised @starting line/help

Matt Hunt
  • MN
Posted

Hello everyone,

first off, thank you already for all of the information i have gathered w/out even posting on here(this is #1 of many im sure)

Im interested in purchasing a single family or townhome to rent in my area as my 1st move. I have recently moved in w/my girlfriend who lives in a townhome that she purchased for 185k...after a year of large $trouble and many missed mort payments, shes back on track ...her credit is shot, im sure. shes paying $1400/mo for 3bed/ 2.5 ba . I dont have the exact numbers yet but lets say she probably has paid next to nothing off towards the principle.
I have great credit, respectable income, and very very little debt. I have about 10k in savings we will get married(soon?) and be looking for a house to call our own.

so question is, do we rent this place and buy a home to rehab and sell in few years? should I buy this place?stay and buy other sfh or th to rent?sell? or even walk away from this place? I know this isnt enough info for a true answer but if you need more info for best guess just ask

thanks folks

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